Tuesday, 5 June 2007

Cadence On Block, PE to Buy Firm

Cadence Design Systems is in talks with two private equities for a possible buyout. News reports have been doing rounds that Cadence has initiated talks with Kohlberg Kravis Roberts and the Blackstone Group.

San Jose, California based Cadence has a market capitalisation of USD6.8 billion and makes software used to develop computer chips.

A deal for Cadence would be one of the biggest moves by private equity firms into technology. Neither Cadence nor Blackstone immediately returned calls seeking comment. KKR could not immediately be reached. It was not immediately known if the deal will be sealed soon.