SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : Cadence Design Systems
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Albert Youssef who wrote (271)8/24/1998 2:00:00 PM
From: Chinacat  Read Replies (1) of 668
 
This just in from EE Times:

>>>>>
Posted: 10:45 a.m., EDT, 8/21/98

EDA shares fall on
Cadence-Ambit rumor

By Richard Goering

MOUNTAIN VIEW, Calif. +erZzZQ-Speculation of an
imminent acquisition of Ambit Design Systems Inc.
by Cadence Design Systems Inc. was at least
partially responsible for a sudden drop yesterday in
the shares of Synopsys Inc., observers said.
Synopsys' stock dropped nearly 12 percent to
close at 31 3/16 and other EDA suppliers suffered
smaller losses on the day.

Sources said Thursday that Cadence (San Jose,
Calif.) was expected to announce an acquisition of
Ambit (Santa Clara, Calif.) for about $250 million.
No announcement came, and representatives of
both Cadence and Ambit declined to comment on
the rumors.

An acquisition of Ambit would put Cadence back
into the synthesis market and place it in direct
competition with Synopsys. It could also derail the
existing cooperation between the market's two
largest EDA companies, including the purchase by
Cadence's services organization of Synopsys'
Design Compiler.

But the Ambit rumor may not be the whole story.
Jennifer Smith, an analyst at Robertson Stephens
and Co., said investors are concerned about the
Asian financial crisis and by recent announcements
of earnings shortfalls by several semiconductor
companies. There's additional concern that
Synopsys' product license revenue might be "light"
this quarter due primarily to the way Synopsys
counts revenues.

Cadence closed Thursday at 28 3/8, off about 1.5
percent. Mentor Graphics Corp. and Avant! Corp.
also experienced slight drops.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News