Cadence Design Acquires Denali For $315M

NEW YORK (AP) -- Cadence Design Systems Inc. on Thursday said it is buying Denali Software Inc., a fellow maker of chip-design software, for $315 million in cash.

San Jose, Calif.-based Cadence said the deal will help it realize its plan for a complete design solution for so-called systems-on-a-chip, which integrate functions otherwise spread out over several chips.

Cadence said it expects the deal to add to fiscal 2011 earnings per share.

Privately held Denali of Sunnyvale, Calif., is expected to have approximately $45 million in cash at closing.

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