Cadence buys Jasper Design Automation for $170 million
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.”