Cadence Agrees To Acquire Intrinsix From CEVA; No terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Cadence Design Systems, Inc. (CDNS) has agreed to acquire Intrinsix Corp. from CEVA, Inc. (CEVA). The financial terms of the deal were not disclosed. The acquisition is expected to have an immaterial impact on Cadence's revenue and earnings for this year.
September 20, 2023 | 11:02 am
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NEUTRAL IMPACT
The acquisition of Intrinsix is not expected to materially impact Cadence's revenue and earnings this year.
The acquisition is not expected to have a significant impact on Cadence's financial performance this year, suggesting that the deal is relatively small or that Intrinsix's operations are not expected to contribute significantly to Cadence's bottom line in the near term.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 100
NEUTRAL IMPACT
CEVA has agreed to sell Intrinsix to Cadence. The financial impact of the deal on CEVA was not disclosed.
Without details on the financial terms of the deal, it's difficult to assess the potential impact on CEVA. However, the sale of a subsidiary typically results in a one-time gain or loss, which could affect CEVA's financial performance in the short term.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 100