Cadence Design Systems Inc, the San Jose-based provider of electronic design automation software and services, has acquired Beaverton, Oregon-based OrCAD Inc for $121m in cash. Both companies offer computer-aided engineering and design tools for the production of printed circuit boards but, while Cadence’s strength is in high-end PCBs, OrCAD concentrates on the shrink- wrap segment of the PCB market. Thus, Cadence reckons the deal will allow it to offer manufacturers a one-stop shop in a PCB software and services market estimated to be worth $700m this year. The acquisition will be carried out as a tender offer for all outstanding OrCAD shares at $13 each and holders of roughly 20% of the stock have already agreed to tender their shares.
