Cadence to Acquire Intrinsix Corporation from CEVA.

Cadence, an electronic systems designer, agreed to Acquire Intrinsix Corporation, a provider of electronics and custom integrated circuit design engineering solutions, from CEVA, a licensor of wireless connectivity and smart sensing technologies for a smarter, safer, connected world. Financial terms were not disclosed. "CEVA's strength over the years has been in developing and licensing semiconductor IP and software, which has powered more than 16 billion devices to date. With the sale of Intrinsix, we are focusing our efforts on this core expertise, which will allow us to reinforce our leadership position in wireless communications, sensing and edge AI technologies and support our long-term growth strategy," said Amir Panush, CEVA CEO.