6/20/2002 - The Institute of Electrical and Electronics Engineers (IEEE), the world's largest technical professional society, has honored Cadence Design Systems, Inc. (NYSE: CDN) with its 2002 Corporate Innovation Recognition award, citing leadership in the field of electronic design automation tools and systems that has "resulted in major advancement of the arts and sciences of electrotechnology." Cadence President and CEO Ray Bingham will accept the award June 22 at the annual IEEE Honors Ceremony in Toronto.
Cadence is joined by two other corporate honorees this year - Seiko Epson Corp. and Taiwan Semiconductor Manufacturing Company LTD. Past recipients include Intel Corp., IBM Corp., Sony Corp., Hewlett-Packard Co., Apple Computer Inc., Philips Electronics, Sun Microsystems, Nokia Corp., and Microsoft Corp.
"Cadence Design Systems has clearly established itself as the worldwide leader in researching and innovating design technologies for integrated circuits," said Ray Findlay, President of the IEEE. "Cadence has made it possible for design techniques and systems to keep pace with steadily increasing chip densities, and, in addition, has made striking reductions possible in the crucial time-to-market for ICs."
"We at Cadence are very honored to receive this prestigious award from the IEEE," Bingham said. "We are proud the IEEE has recognized the many achievements our team has made-and continues to make - in pursuit of advancing the field of electronic design. As our customers continue to dream up the great-and increasingly complex - new products of tomorrow, it is our challenge to stay a step ahead and deliver the innovation that ensures they aren't limited by the design technologies at their disposal."
The award was established in 1985 to mark "outstanding and exemplary contributions by an industrial entity, governmental or academic organization, or other corporate body," according to the IEEE. The contribution may be achieved "through the medium of innovative products, product lines, systems, or concepts, which have resulted in major advancement of the arts and sciences of electrotechnology."
The award, which consists of a certificate and crystal sculpture, is presented by the IEEE Board of Directors on the recommendation of the Corporate Recognitions Committee and the Awards Board.
The IEEE is the world's largest technical professional society with more than 377,000 members in approximately 150 countries. Through its members, the IEEE is a leading authority on areas ranging from aerospace, computers and telecommunications to biomedicine, electric power and consumer electronics. Additional information is available at www.ieee.org.
Cadence is the largest supplier of electronic design technologies, methodology services, and design services. Cadence solutions are used to accelerate and manage the design of semiconductors, computer systems, networking and telecommunications equipment, consumer electronics, and a variety of other electronics-based products. With approximately 5,600 employees and 2001 revenues of approximately $1.4 billion, Cadence has sales offices, design centers, and research facilities around the world. The company is headquartered in San Jose, Calif., and traded on the New York Stock Exchange under the symbol CDN. More information about the company, its products and services are available at www.cadence.com.
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