Cadence Announces Expansion of Stock Repurchase Program.Business Editors/High-Tech Writers SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--Feb. 9, 2000 Cadence Design Systems (company) Cadence Design Systems - A company that sells electronic design automation software and services. http://cadence.com/. See also Verilog. , Inc. (NYSE NYSE See: New York Stock Exchange :CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. ), the world's leading supplier of electronic design products and services, today announced that its Board of Directors has approved an authorization to repurchase an additional 15,000,000 shares of its stock effective immediately. The Board authorized 5,000,000 shares for repurchase on a systematic basis to meet the share issuance requirements of the company's 2000 Stock Option Plan and 10,000,000 shares were authorized for repurchase on a non-systematic basis to be used for general corporate purposes. The company is now authorized to repurchase an aggregate of 13,000,000 shares for its 1997 Stock Option Plan, 5,000,000 shares for its 2000 Stock Option Plan, 13,400,000 shares for its Employee Stock Purchase Plan, and 10,000,000 shares for general corporate purposes. About Cadence cadence, in music, the ending of a phrase or composition. In singing the voice may be raised or lowered, or the singer may execute elaborate variations within the key. Cadence is the largest supplier of software products, methodology services, and design services 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 5,000 employees and 1999 annual revenue of $1.1 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 New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol CDN. More information about the company, its products and services may be obtained from the World Wide Web at http://www.cadence.com. Note to Editors: Cadence and the Cadence logo are registered trademarks. |
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