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Exhibit 99.1
TALITY ANNOUNCES POSTPONEMENT OF INITIAL PUBLIC OFFERING
SAN JOSE, Calif.--October 9, 2000--Tality Corporation -- a subsidiary of
Cadence Design Systems, Inc. (NYSE: CDN) -- announced that it has postponed its
initial public offering originally planned for the week of October 9, 2000. The
company cited market conditions as the reason for delaying the offering.
"With the volatility of the equity markets over the last thirty days, we
felt it prudent to delay the offering," said Bob Wiederhold, president and chief
executive officer of Tality. "Our current plan is to wait until the market
stabilizes and then reevaluate timing."
ABOUT TALITY
Tality Corporation, formerly the Electronic Design Services group of
Cadence Design Systems, Inc., was recently launched as a separate company. With
more than 1000 engineers located in 14 design sites worldwide, the organization
is the world's largest independent provider of engineering services and
intellectual property for the design of complex electronic systems and
integrated circuits. Tality is headquartered at 555 River Oaks Parkway, Building
No. 3, San Jose, California 95134.
ABOUT CADENCE
Cadence is the largest supplier of electronic design automation products,
methodology 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 electronics-based
products. With approximately 5,100 employees and 1999 annual revenue of $1.1
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. More information about the
company, its products, and its services may be obtained from the World Wide Web
at http://www.cadence.com.
