On October 27, 2000, Numerical Technologies Inc. (Numerical) of San Jose, California, completed the purchase of Ottawa and San Jose-based Cadabra Design Automation, Inc. (Cadabra), in a share exchange involving the issuance of 3.2 million shares (having an approximate value at closing of US$65 million) and options of Numerical stock. Cadabra will become a wholly-owned subsidiary of Numerical.
Numerical develops and markets proprietary technology, software tools and services that enable the semi-conductor industry to produce subwavelength integrated circuits. Cadabra is the leading provider of automated layout cell-creation technology used to create the building blocks for standard cell, semi-custom and custom integrated circuits (ICs).
Numerical was represented in Canada by Jay Lefton and Barbara Worndl of Aird & Berlis, and by John Roos, Kathleen Bloch, Stephen Welles, Robert Tesler, Jason Sebring and Bruce Cohen of Wilson Sonsini Goodrich & Rosati in Palo Alto. For Canadian advice, Cadabra relied on Tom Houston, Tom Reaume and Andrea Johnson of Fraser Milner Casgrain’s Ottawa office and Chris Steeves of the firm’s Toronto office. For US advice, Cadabra called on Rod Howard, Ashok Lalwani and David Haber of Brobeck, Phleger & Harrison’s Palo Alto office and Grady Bolding of Brobeck, Phleger & Harrison’s San Francisco office. CS First Boston acted as financial advisors to Numerical and Chase H&Q acted as financial advisors to Cadabra.