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Cadence is First EDA Company to Open Research & Development and Customer Support Center in Russia
New Office is the Latest in a Series of Investments in Russia
as Part of the Cadence Globalization Strategy
MOSCOW—(BUSINESS WIRE)—May 26, 2004—
Cadence Design Systems, Inc. (NYSE:CDN) today announced the
opening of its first office in Moscow as the latest in a series of
strategic investments by Cadence(R) in Russia. Ray Bingham, chairman
of the Board of the Directors of Cadence Design Systems, Inc. is in
Moscow to unveil the new facility, which is the first electronic
design automation (EDA) research and development center opened in
Russia by an overseas company.
The Moscow office will house more than 70 employees, who will
focus on EDA tool development, including methodology services. It also
will serve as Cadence's Russian center for training, scientific
endeavors and large-scale educational programs, as well as local
customer support.
"Russia has become a center of electronic design excellence, with
many major global technology companies having facilities here," said
Bingham. "There are many exceptionally talented electronic designers
and engineers in Russia. This research and development center will
become one of the cornerstones of electronic design excellence in this
country, and Cadence is committed to support Russia's growth as a
technology leader."
Mike Fister, who was named president and CEO at Cadence on May 12
added, "Cadence is a global provider of EDA technologies and services
and needs to be wherever its customers are. I am pleased to support
this investment, which represents the latest commitment to our
customers in Russia and to helping the country's microelectronics
industry flourish."
Cadence also sponsors a master's foundational program in
analog/mixed-signal system-on-a-chip design at the Moscow Institute of
Electronic Technology (MIET). This collaborative program is designed
to benefit Russia's high-tech industry by developing a continuous
stream of master's degree graduates with leading-edge skills in
electronic design.
Mirantis, Inc., a Foster City Calif. company has been providing
Russian business expertise to Cadence over the last 3 years and was
also instrumental in the recent opening of the Cadence Technology
Development Center in Moscow.
The Cadence Moscow office is located at Ulica Bolshaya Ordynka,
dom 44, stroeni 4, 3 floor, 119017 Moscow.
About Cadence
Cadence is the largest supplier of electronic design technologies
and engineering 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 4,800 employees
and 2003 revenues of approximately $1.1 billion, Cadence has sales
offices, design centers, and research facilities around the world. The
company is headquartered in San Jose, California, U.S.A., and traded
on the New York Stock Exchange under the symbol CDN. More information
about the company, its products and services is available at
www.cadence.com.
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.
Andrea Huse, +49 (0) 89 4563 1726
ahuse@cadence.com
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