Cadence Teams With Beijing Partner to Establish Institute to Train Engineers in Electronic Design
Zhongguancun-Cadence Institute of Software Technology Eventually Will Train Up to 1,000 Students Per Year
SAN JOSE, Calif.--(BUSINESS WIRE)--April 25, 2002--
Cadence Design Systems, Inc. (NYSE:CDN - news), the world"s leading
supplier of electronic design products and services, announced today
it has entered a joint venture to establish a software institute in
Beijing that will train post-graduate-level engineers in electronic
design. The joint venture is between Cadence Design Systems Asia Ltd.
and Beijing Zhongguancun Software Education Co. Ltd.
Beijing Vice Mayor Liu Zhi Hua and Cadence President and Chief
Executive Officer Ray Bingham signed the agreement at an April 25
ceremony on the Cadence campus in San Jose.
The Zhongguancun-Cadence Institute of Software Technology -- to be
built from the ground up and expected to open in October -- will train
up to 300 students in its first year; that capacity will increase to
1,000 students per year over the next five years. The campus will be
located in the Beijing Zhongguancun Science Park, an area dedicated to
research and development and other activities in a variety of
disciplines, including integrated circuits, biotech and software.
"China is the new frontier for the electronics industry, and all
signs point to dramatic growth in the coming years,"" Bingham said.
"China has a remarkably large and skilled talent pool coming up
through its universities, and we are committed to helping develop and
advance its electronic design industry.""
Cadence will provide software, hardware for running the software,
curriculum, and application engineers to help train the students.
Beijing Zhongguancun Software Education Investment Co. Ltd., composed
of several Beijing-based investment companies, will provide land for
the campus, buildings and facilities, and operating funds for the
institute"s first year.
The joint venture is the latest instance of Cadence investing in
China. In December, Cadence announced its intention to invest US$50
million in China to build a strong network of research and
development, customer support and services. Additional announcements
are planned.
Matthew Chan, President, Asia Pacific and senior vice president,
said, "The electronic design industry has a great future in China, and
Cadence is committed to playing a leadership role -- as a vendor and
strategic partner.""
About Cadence
Cadence is the largest supplier of electronic design technologies,
methodology services, and design services. Cadence solutions are 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 5,600 employees and 2001 revenues of approximately $1.4
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 services are
available at www.cadence.com.
Note to Editors: Cadence and the Cadence logo are registered
trademarks of Cadence Design Systems, Inc. All other trademarks are
the property of their respective owners.
Contact:
Cadence Design Systems, Inc.
Dean Solov, 408/914-6077
dsolov@cadence.com
