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CADENCE DESIGN SYSTEMS MAKES $50 MILLION IN SOFTWARE AVAILABLE TO MIT

 CHELMSFORD, Mass., April 16 /PRNewswire/ -- Cadence Design Systems Inc. (NYSE: CDN), of San Jose, Calif., today announced that it has provided software and services with a list price of $50 million for use by the Massachusetts Institute of Technology over the next three years.
 The announcement of the award was made at a celebration marking the opening of Cadence's newly-expanded Software Engineering Research and Development Facility in Chelmsford. The award ceremony was attended by top company officials, including Joseph B. Costello, president and chief executive officer, MIT administrators and faculty members, and officials from local and state governments.
 The award to MIT includes the complete suite of Cadence's electronic design automation (EDA) software and services that accelerate and advance the process of designing electronic systems, which will primarily be used by students in the Department of Electrical Engineering and Computer Science.
 "We at Cadence feel that this major event pays tribute to the cooperative efforts of business and academic institutions in honoring their commitments to higher education, local economic affairs and the continued technological growth and competitiveness of our nation," Costello said. "Cadence understands the obligation of business to invest in our nation's present and future engineering talents and appreciates the opportunity to demonstrate its dedication to technology leadership with this award."
 MIT President Charles M. Vest, in a statement, noted that, as a result of the award, MIT engineering graduates "will have access to Cadence's electronic design automation technology, which will facilitate the engineering innovation that has made our nation a leader in the high technology arena."
 He added: "We are grateful for this generous expression of confidence in our faculty and students, and we commend Cadence for this tangible demonstration of support for the university-industry linkage that has served this nation so well for half a century. This kind of support from industry will help all of America's research universities to retain and enhance excellence in a time of fiscal constraint and societal uncertainty."
 Cadence is one of the 10 largest software companies in the world, developing and marketing design automation software and complementary services that enable customers to improve the quality and time-to-market performance of innovative products. The company employs over 2,400 people in more than 60 research and development, sales and support locations worldwide.
 -0- 4/16/93
 /CONTACT: Charles Ball at Cadence, 617-253-1683/
 (CDN)


CO: Cadence Design Systems; Massachusetts Institute of Technology ST: California, Massachusetts IN: CPR SU:

LH-SG -- SJ005 -- 7036 04/16/93 20:54 EDT
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Publication:PR Newswire
Date:Apr 16, 1993
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