8/2/2002 - Cadence Design Systems, the world's leading supplier of electronic design products and services, will vigorously dispute a complaint in U.S. District Court from IKOS Systems, a subsidiary of Mentor Graphics Corporation, alleging the Cadence Quickturn PalladiumTM design verification system infringes on an IKOS patent.
"Mentor recently paid over $100 million for IKOS. It is unfortunate for the industry if Mentor's way to get a return on that acquisition is to divert resources to the legal system rather than solve customer problems," said Penny Herscher, Cadence executive vice president and chief marketing officer. "The suit is completely without merit, and we look forward to vigorously defending Cadence's proprietary technology and to prevailing in court."
About Cadence (www.cadence.com)
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. IEEE, the world's largest technical professional society, honored Cadence with its 2002 Corporate Innovation Recognition award. With approximately 5,500 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.
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