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EXHIBIT 99.1
NUMERICAL TECHNOLOGIES TO ACQUIRE CADABRA
Integration with leader in automated layout creation
expands Numerical's subwavelength design-to-silicon leadership position
San Jose, Calif. - September 5, 2000 - Numerical Technologies, Inc. (NASDAQ:
NMTC) today announced that it has signed a definitive agreement to acquire
Cadabra Design Automation, Inc. (Cadabra), the leading provider of automated
cell creation technology used to create the building blocks for standard cell,
semi-custom, and custom integrated circuits (ICs). The acquisition will
facilitate the mainstream deployment of Numerical's subwavelength technologies
for IC production, and increase the number of designs enabled for Numerical's
phase-shifting technology.
"As the semiconductor industry moves further into the subwavelength realm,
designers must have access to subwavelength technology much earlier in the
design process; as a result, the requirements for layout creation fundamentally
change," said Y.C. (Buno) Pati, president and CEO of Numerical. "This
acquisition enables us to meet those needs and lead an emerging market that is
critical for subwavelength IC production. It also adds a key technology to our
portfolio that will accelerate the delivery of our next generation phase-
shifting solution."
As consideration for the acquisition, Numerical will issue 3.2 million
shares and options of Numerical Technologies stock. Cadabra will become a wholly
owned subsidiary of Numerical.
This acquisition will be accounted for as a purchase and is currently
expected to be accretive as early as Q1, 2001. Credit Suisse First Boston served
as advisors to Numerical Technologies in this transaction.
Faysal Sohail, currently president and CEO of Cadabra, will remain
president of the Cadabra subsidiary and become senior vice president of
Numerical. Martin Lefebvre, chairman, founder and CTO of Cadabra, will oversee
the integration of Cadabra's
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technology with Numerical's products. The Cadabra research and development group
will remain in its existing facilities in Ottawa, Canada.
"Our customers have asked us to work closely with Numerical on technology
integration; in doing so, we discovered a strong synergy between the teams,"
said Faysal Sohail, president and CEO of Cadabra. "Numerical's leadership in
subwavelength technology is the basis for our subwavelength-enabled layout
creation flow that provides correct-by-construction results for highly complex
processes. By merging our companies, our customers will have transparent access
to the most advanced subwavelength process technologies through automated
creation of the highest quality building blocks used in the design of complex
ICs."
Technology Direction
In the subwavelength era, design and manufacturing teams must create ICs
with features smaller than the wavelength of light used to manufacture them in
order to increase IC performance, yield, and power efficiency. To meet this
challenge, semiconductor manufacturers are adopting phase-shifting and attendant
technologies as a part of their advanced manufacturing processes.
Cell layouts are the building blocks for IC designs and the primary means
of transferring information about new process technology to the design flow. As
processes have increased in complexity, Cadabra has seen a growing adoption of
its automated solutions for the design of these building blocks.
Subwavelength processes require the transfer of additional information that
was not needed in the creation of these building blocks in an above wavelength
paradigm. As the use of phase shifting becomes more pervasive, it becomes
imperative that the building blocks are phase-compliant, characterized for the
subwavelength process, and work within an existing design flow. An automated
system to generate subwavelength-enabled libraries becomes critical, and will
increase the number of designs that are enabled for phase-shifted process
technology.
Through this acquisition, Numerical will create a cohesive solution where
the creation algorithms for these building blocks will have in-depth knowledge
of the latest subwavelength technology.
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In April of this year, Numerical and Cadabra announced a relationship to
integrate Numerical's phase shifting and attendant technologies into Cadabra's
automated Library Factory(TM) flow. Cadabra has also integrated its technology
into the leading mainstream design flows such as those provided by Cadence
Design Systems, Inc. (NYSE: CDN) and Synopsys, Inc. (NASDAQ: SNPS).
About Cadabra
Cadabra Design Automation, Inc. is the leading supplier of tools for the
creation of the cell layouts that form the fundamental building blocks used in
the standard cell, semi-custom, and custom IC design process. Cadabra's tools
help users achieve high productivity in the creation of very high quality,
error-free standard cell layouts . Current worldwide customers include top
semiconductor vendors, third party library vendors, and leading fabless
semiconductor companies in the graphics and communications markets. For more
information, visit the Cadabra web site at http://www.cadabradesign.com or send
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email to [email protected]
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About Numerical
Numerical Technologies Inc. (NASDAQ: NMTC) develops and markets proprietary
technology, software tools and services that enable the semiconductor industry
to produce subwavelength integrated circuits, i.e. integrated circuits with
components smaller than the wavelength of light used to create circuit patterns
on silicon. Numerical's products and industry alliances form a comprehensive
design-to-silicon solution that enables the creation of smaller, faster, and
more power-efficient semiconductors using available manufacturing equipment.
Numerical's customers include the world's leading semiconductor companies,
design automation tool vendors, semiconductor equipment suppliers and photomask
manufacturers. Additional information about the company is available on the Web
at http://www.numeritech.com.
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This release contains forward-looking statements that are made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Statements about our ability to deliver next-generation technology, our
ability to integrate Cadabra and Numerical technologies, our ability to realize
the accretion to earnings as a result of the acquisition, our customers' ability
to benefit from our services and
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technology, and the demand for subwavelength enabled libraries forward-looking
statements. These statements are made based on Numerical's current beliefs and
expectations. Investors are cautioned that all forward-looking statements
involve risks and uncertainties. Actual results may differ materially from the
results predicted. Risk factors that could affect Numerical's future include
business conditions, economic conditions and growth in the semiconductor
industry, our ability to integrate the Cadabra and Numerical technologies, our
ability to realize expected synergies of the acquisition, our ability to
increase the number of phase-shift designs, the adoption of our proprietary
technology by the semiconductor industry, our ability to retain key employees,
and our ability to maintain current, and enter into new, industry partnerships.
For more information about factors that could potentially affect Numerical's
financial results, please refer to the prospectus filed on 4/7/00 and other
filings with the Securities and Exchange Commission, copies of which may be
accessed through the SEC's web site at www.sec.gov. Numerical does not undertake
to update any forward-looking statement that may be made from time to time by or
on behalf of Numerical.
CONTACTS:
Numerical - Susan Lippincott, 408.273.4474, [email protected]
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Cayenne Communication - Lois DuBois, 650.854.5485, [email protected]
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Cadabra - Anjaneya Thakar, 408.260.2500 x519, [email protected]
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