Today, Cadence Inc. announced the definitive agreement to acquire Jasper Design Automation Inc, the market leader in Formal Verification software.
Northzone invested in Jasper already in 2004 when Safelogic, a Gothenburg based EDA technology company, merged with Jasper. Pär-Jörgen Pärson, General Partner at Northzone, has served on the Board of Directors for more than 10 years is commenting the transaction.
I am very pleased with how Jasper now can continue to grow as an important business unit inside the EDA market leader Cadence Inc. I am extremely impressed how Kathryn and her exceptional team has built a fast growing and profitable business over the past decade and consequently created significant shareholder value.
Pär-Jörgen continues. “The Northzone investment in Jasper is a great illustration on how a long term partnership between strong entrepreneurs and ourselves can grow a great idea into a substantial global company. We are quite proud to have contributed to their success.”