Boston, MA 05/05/2014 (wallstreetpr) – Cadence Design Systems Inc (NASDAQ:CDNS) has posted higher revenue for 1Q2014 and also acquired new businesses.
Slightly higher revenue
Cadence recently posted its 1Q2014 revenues. Even though, it earned exactly the expected earnings of $0.20 but the sales were higher by $1.8 million than the expected. It had sales of $378.6 million when the expectation was $376.8 million. After announcement of the quarterly finances, the share prices also rose 0.1% and at present it is 18% higher than the low price.
Sonic Emotion Absolute 3-D Sound Software for its processor
Cadence Design Systems Inc (NASDAQ:CDNS) gets the Sonic Emotion Absolute 3-D Sound Software for Cadence Tensilica HiFi Low-Power Audio/Voice Processors. For the first time, the software has been offered to a licensable IP DSP core. The processor gets an optimised port of the Absolute 3-D technology. With the help of this technology, TVs, audio devices, mobile devices and other equipment manufacturers will be able to offer premium audio quality to the users. The devices using the technology will be able to create a virtual 3-D sound environment for the users. Such a technology to offer premium sound will increase the business for Cadence by creating more demand for its products, as the technology will help the manufacturers to differentiate their products from their competitors.
Buying another company
Cadence has agreed to buy Jasper Design Automation by paying a price of $170 million in cash. Jasper has $24 million in cash and cash equivalents. With the acquisition of Jasper, Cadence will expand its verification solution, as Jasper is a leader in different complex verification issues.
Cadence Design Systems Inc (NASDAQ:CDNS) will have a big piece of the fast-growing formal analysis sector, as it will be able to offer a broad range of products and solutions for different complex verification conditions. Jasper offers the JasperGold® platform, on which different verification apps are based. The users of Jasper’s solutions include different leading semiconductor, systems and IP companies.
