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July 21, 1998

CADENCE MERGES SALES AND SERVICES DIVISION

By CBR Staff Writer

Electronic design software tools and services company Cadence Design Systems Inc has merged its sales and services divisions in an attempt to operate more efficiently. The new division will be known as the Worldwide Field Operations group, and will employ a combined staff of 2,400. It will be responsible for the marketing and sales of all Cadence products and services, and the company’s two services groups, Consulting Services and Design Services have been folded into the group. Michael Bealmear, head of the services unit and Dan Maher, vice president of design services have both left the company, leaving John Olsen, former sales boss, in charge of the newly formed division. San Jose, California-based Cadence recorded a first-quarter net loss of $25.5m, including a charge of $97.7m on revenue up 44.1% at $270.2m (CI No 3,394).

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