Cadence made a late entry into the IP market vs Synopsys but made a good progress in recent years. Between Tensilica IP and design IP (SerDes/C2C/HB/DDR), CDNS is seeing its IP growth rate beat EDA growth rate (same for SNPS). IP, however, is less profitable vs EDA. Most recently, ventured into foundational IP to grow its IP business at foundries, a potential expansion opportunity at Intel and Samsung.
Source: Sravan Kundojjala
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