M&A Deal Summary

Cadence Acquires Axis Systems

On February 10, 2004, Cadence acquired semiconductors company Axis Systems from Summit Partners

Acquisition Highlights
  • This is Cadence’s 5th transaction in the Semiconductors sector.
  • This is Cadence’s 24th transaction in the United States.
  • This is Cadence’s 16th transaction in California.

M&A Deal Summary
Date 2004-02-10
Target Axis Systems
Sector Semiconductors
Buyer(s) Cadence
Sellers(s) Summit Partners
Deal Type Add-on Acquisition

Target

Axis Systems

Sunnyvale, California, United States
Axis Systems, Inc. provides hardware and software systems for functional verification of electronic systems and complex integrated circuits.

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Buyer(S) 1

Buyer

Cadence

San Jose, California, United States
Category Company
Founded 1987
Sector Software
Employees11,200
Revenue 4.1B USD (2023)
DESCRIPTION
Entrance to Cadence Design Systems' corporate headquarters in San Jose, California.
Entrance to Cadence Design Systems' corporate headquarters in San Jose, California.

Cadence develops system design enablement solutions that customers use to design whole electronics systems, increasingly small and complex integrated circuits, and electronic devices. Cadence's solutions are designed to help customers reduce the time to bring an electronics system, IC or electronic device to market and to reduce their design, development and manufacturing costs. Cadence's product offerings include electronic design automation, software, emulation and prototyping hardware, system interconnect and analysis and categories of intellectual property referred to as verification IP and design IP. Cadence was founded in 1987 and is based in San Jose, California.

DEAL STATS #
Overall 25 of 51
Sector (Semiconductors) 5 of 10
Type (Add-on Acquisition) 24 of 46
State (California) 16 of 30
Country (United States) 24 of 45
Year (2004) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-05 Q Design Automation

Mountain View, California, United States

Q Design Automation, Inc., is a provider of innovative solutions for migrating and optimizing IC layout, a critical bottleneck in today's designs.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-06 Neolinear

Pittsburgh, Pennsylvania, United States

Neolinear, Inc. is a analog design technology critical for the consumer and communications markets where semiconductors are increasingly differentiated by their analog content. The Neolinear team will bring additional strong A/MS and RF expertise into Cadence and play a key role in driving ongoing innovations for improving yield and speeding IP reuse in the Cadence® Virtuoso® custom design platform.

Buy -

Seller(S) 1

SELLER

Summit Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1984
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Summit Partners is a private investment and asset management firm focused on venture, growth, credit, and public equity investing. Sectors of interest include business services, communications technology and services, consumer products, energy, financial services, healthcare and life sciences, industrial products, internet/information services, media/entertainment, semiconductors, electronics, and software. Summit Partners is known for having a proactive business development group for sourcing transactions. Summit will consider both minority or majority investment stakes and is willing to commit as little as $10 million or as much as $500 million in combined debt/junior capital per transaction. The Firm's geographic coverage spans North America and Europe. Summit Partners was formed in 1984 and is headquartered in Boston, Massachusetts.

DEAL STATS #
Overall 94 of 285
Sector (Semiconductors) 5 of 7
Type (Add-on Acquisition) 39 of 127
State (California) 32 of 62
Country (United States) 91 of 246
Year (2004) 1 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-20 optionsXpress

Chicago, Illinois, United States

optionsXpress Holdings, Inc., a pioneer in equity options and futures trading, offers an innovative suite of online brokerage services for investor education, strategy evaluation and trade execution. optionsXpress Holdings subsidiaries include optionsXpress, Inc., a retail online brokerage specializing in options and futures, brokersXpress, LLC, an online trading and reporting platform for independent investment professionals, Open E Cry, LLC, an innovative futures broker offering direct access futures trading for high volume commodities and futures traders through its proprietary software platform, and Optionetics, Inc., a leading provider of investment education services, including live seminars, proprietary software analytics, online and offline educational products and individual coaching.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-02-11 BHI Energy

Weymouth, Massachusetts, United States

BHI Energy is a provider of on-site specialty maintenance, radiation protection, and staffing services to the power-generation industry. BHI’s business model is proven to build longstanding relationships with customers through the alignment of operating objectives and the ability to help customers effectively manage and service their assets across power generation, oil & gas, and electricity transmission and distribution sectors. BHI Energy was founded in 1979 and is based in Weymouth, Massachusetts.

Buy -
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