Cadence Acquires Tensilica

San Jose-based Cadence, the provider of electronic design automation (EDA) software, said Monday afternoon that it is acquiring Tensilica, the provider of semiconductor IP. Cadence said it will pay approximately $380M in cash for Tensilica. Candece said the deal will further expand its IP portfolio. Tensilica had approximately $30M of cash on hand at the end of 2012. Tensilica is based in Santa Clara.