Cadence Design Systems Revenue & Valuation (2024)

Cadence Design Systems was founded in 1988 after the merger of ECAD and SDA Systems. Cadence is known as an electronic design automation, or EDA, firm that specializes in developing software, hardware, and intellectual property that automates the design and verification of integrated circuits or larger chip systems. Historically, the firm's tools have been relied on by semiconductor firms, but there has been a shift toward other nontraditional systems users given the development of the Internet of Things, artificial intelligence, autonomous vehicles, and cloud computing. Cadence is headquartered in Silicon Valley, has approximately 7,600 employees worldwide, and was added to the S&P 500 in late 2017. The company seeks to strengthen and expand its core business through acquisitions.