Cadence To Acquire Ambit

Cadence Design Systems has agreed to acquire Ambit Design Systems for $260 million.

Ambit, a privately held company, is the developer of the BuildGates synthesis tool. This product lets designers perform synthesis and timing analysis on multi-million gate designs used in system-on-a-chip (SOC) products.

Currently, Ambit employs more than 100 people. A majority of these employees will join Cadence when the acquisition is complete.