Sign up for our newsletter - Navigating the horizon of business technology​
Technology / AI and automation

INTERGRAPH MERGES TANGENT AFFILIATE WITH CADENCE SYSTEMS

Intergraph Corp has agreed to a merger between its 80% affiliate Tangent Systems Corp and publicly-quoted Cadence Systems Inc, under which the Huntsville, Alabama company will end up with a holding in the enlarged Cadence. Cadence will pay 1.6m of its shares for Tangent, giving the firm an indicated value of $14.4m, and Cadence will do versions of its integrated circuit design software for Intergraph’s Clipper-based workstations for joint marketing by the two companies. It is not clear how much of the Cadence equity Intergraph will hold after the transaction. In April, Intergraph injected $2m into Tangent to take its stake to 80%; the Toshiba Corp-Motorola Inc joint venture earlier adopted Tangent’s Tangate sea-of-gates gate array design software (CI No 898).

White papers from our partners


This article is from the CBROnline archive: some formatting and images may not be present.

CBR Staff Writer

CBR Online legacy content.