Palo Alto, CA – Feb. 28, 2013 – MontaVista LLC, an embedded Linux software provider and subsidiary of Cavium, has announced the acquisition of its automotive technology unit by Mentor Graphics Corp., an EDA and embedded software vendor. Mentor said the deal brings together two highly complementary units focused on Linux-based automotive in-vehicle infotainment (IVI) software and services, establishing Mentor as the No. 1 commercial provider in the embedded Linux IVI market. Automakers view the IVI market as an area of competitive differentiation and it is expected to grow quickly in the next few years, making this a key acquisition for Mentor.
Combined, Mentor and MontaVista Automotive IVI assets are in production at three automotive OEMs and are also in active development for next-generation vehicles by seven automotive tier 1 suppliers. Products will go to production with additional OEMs within the year. Mentor will continue to offer products from legacy MontaVista—currently a subsidiary of chip vendor Cavium—as well as its own products. However, the firms’ MontaVista Automotive Technology Platform and Mentor Embedded Infotainment Base Platform could be integrated relatively quickly, complemented by Mentor’s Sourcery CodeBench and Sourcery Analyzer.
“I think we are pretty well positioned to be a pretty significant force. We actually think we will have our first combined release within a couple of months.” Mark Mitchell, General Manager of Open Source Embedded Solutions, Mentor Graphics Corp.
Woodside Capital Partners served as the exclusive financial advisor to Cavium in this transaction.
About Cavium, Inc.
Cavium (NASDAQ: CAVM) is a provider of highly integrated semiconductor processors that enable intelligent networking, communications, storage, video and security applications. Cavium offers a broad portfolio of integrated, software compatible processors ranging in performance from 1Gbps to 100Gbps that enable secure, intelligent functionality in Enterprise, Data-Center, Broadband/Consumer and Access and Service Provider equipment. Cavium’s processors are supported by ecosystem partners that provide operating systems, tools and application support, hardware reference designs and other services. Cavium’s principal offices are in San Jose, California, with design team locations in Massachusetts, India, Taiwan and China. For more information, please visit: http://www.cavium.com
About Mentor Graphics Corp.
Mentor Graphics is a technology leader in electronic design automation (EDA), providing software and hardware design solutions that enable companies to develop better electronic products faster and more cost-effectively. The company offers innovative products and solutions that help engineers overcome the design challenges they face in the increasingly complex worlds of board and chip design. Mentor Graphics has the broadest industry portfolio of best-in-class products and is the only EDA company with an embedded software solution.
About Woodside Capital Partners
Woodside Capital Partners is a global, independent investment bank that delivers world-class strategic and financial advice to emerging growth companies in the technology and life sciences sectors. With a strong track record in M&A, strategic partnerships and private placements, Woodside Capital Partners has been providing worldwide investment banking services since 2001, with leading domain experience in software, Internet services, electronic communications and materials, and healthcare. Woodside Capital Partners is headquartered in Silicon Valley, with an office in London. Securities offered through Woodside Capital Securities LLC, member FINRA/SIPC. For more information, please visit www.woodsidecap.com.