<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
---------------
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 30, 1998
CADENCE DESIGN SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
DELAWARE
(State or other jurisdiction of incorporation)
1-10606 77-0148231
(Commission File No.) (IRS Employer Identification No.)
2655 SEELY ROAD, BUILDING 5, SAN JOSE, CA 95134
(Address of principal executive offices and zip code)
Registrant's telephone number, including area code: (408) 943-1234
---------------
<PAGE>
Item 5. OTHER EVENTS.
On September 30, 1998, Cadence Design Systems, Inc., a Delaware
corporation (the "Registrant"), acquired from Lucent Technologies Inc., a
Delaware corporation ("Lucent"), certain assets and liabilities of Lucent's
Bell Labs Integrated Circuit Design Automation Group.
2.
<PAGE>
Item 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Exhibits.
99.1 Press Release, dated October 1, 1998.
3.
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
CADENCE DESIGN SYSTEMS, INC.
Dated: October 9, 1998 By: /s/ R.L. Smith McKeithen
------------------------------
R.L. SMITH MCKEITHEN
Senior Vice President, General
Counsel and Secretary
4.
<PAGE>
INDEX TO EXHIBITS
EXHIBIT DESCRIPTION OF EXHIBIT
99.1 Press Release, dated October 1, 1998.
5.
<PAGE>
EXHIBIT 99.1
For Immediate Release
Cadence Completes Acquisition of Bell Labs EDA Group
Brings Together World-Class R&D Talent to Solve Customer Challenges for
System-on-a-chip Design and Verification
San Jose, CA -- October 1, 1998 -- Cadence Design Systems, Inc. announced that
its acquisition of the Bell Labs Design Automation Group (BLDA) from Lucent
Technologies Inc. will be finalized today. The integration of BLDA into
Cadence creates the world's largest electronic design automation development
team focused on the complex verification challenges companies face when
designing integrated circuits (ICs) and next-generation systems-on-a-chip
(SOC). As a result of the acquisition, more than 100 BLDA employees will join
Cadence, including software engineers, consulting service experts, and 40
doctorate technologists.
"We have an unprecedented opportunity for advancing the state of the art in
advanced IC design," said Jack Harding, president and CEO of Cadence. "The
combination of Cadence and BLDA -- supported by joint development ties between
the Cadence Labs and Bell Labs research and development organizations --
results in a wealth of technology and expertise dedicated to delivering the
industry's most advanced front-to-back flow for multi-level, full-system
verification."
Bill Evans, head of the BLDA group, concurred, "Given the explosion in
silicon processes, designers are challenged with the exponentially more
complex task of verifying that next-generation chips function as intended.
The similarities between the underlying technologies developed by Cadence and
BLDA will make the integration straightforward and provide an immediate
productivity boost to our customers."
The waiting period imposed by the U.S. Federal Trade Commission and
Department of Justice as required by the Hart-Scott-Rodino Antitrust
Improvements Act expired on September 25, 1998, thereby permitting Cadence
and Lucent to proceed to closing. Pursuant to the agreement between the two
companies, financial terms for the BLDA acquisition remain undisclosed.
The matters discussed in this news release involve forward looking
statements, and actual results may differ materially from those discussed.
Additional information concerning factors that could cause such a difference
can be found in the Company's SEC reports, including the reports on Form 10-K
for the year ended January 3, 1998 and Form 10-Q for the periods ended April
4 and July 4, 1998.
About Lucent
Lucent Technologies, headquartered in Murray Hill, NJ, designs, builds and
delivers a wide range of public and private networks, communications systems
and software, data networking systems, business telephone systems and
microelectronic components. Bell Labs is the research and development arm for
the company. For more information on Lucent Technologies, visit the Lucent
web site at http://www.lucent.com.
About Cadence
Cadence Design Systems, Inc. provides comprehensive services and software for
the product development requirements of the world's leading electronics
companies. Cadence is the largest supplier of software products, consulting
services, and design services used to accelerate and manage the design of
semiconductors, computer systems, networking and telecommunications
equipment, consumer electronics, and a variety of other electronic-based
products. With more than 4,400 employees and 1997 annual sales of $916
million, Cadence has sales offices, design centers, and research facilities
around the world. The company is headquartered in San Jose, Calif.
<PAGE>
and traded on the New York Stock Exchange under the symbol CDN. More
information about the company, its products and services may be obtained from
the World Wide Web at http://www.cadence.com.
Cadence is a registered trademark, and the Cadence logo is a trademark of
Cadence Design Systems, Inc. All others are properties of their holders.
For more information, contact:
Laurel (Laurie) Stanley
Cadence Design Systems, Inc.
408-428-5019
[email protected]
