SAN JOSE, Jan. 12 - Cadence Design Systems has signed a definitive agreement to acquire Verisity, a Mountain View, CA-based provider of verification process automation solutions in an all-cash deal.

Subject to customary shareholder and government approvals, Verisity stockholders will receive $12 in cash in exchange for each outstanding share.

Verisity CEO Moshe Gavrielov will join Cadence and Yoav Hollander, founder and CTO, will play an integral role in setting Cadence's verification technology direction.

"The global electronics industry is under unprecedented pressure to develop and bring to market innovative products as quickly as possible," said Mike Fister, president and CEO, Cadence Design Systems. "Our acquisition of this highly innovative team and successful business is consistent with Cadence's focus on enabling the world's leading electronics companies to address the demand for increasingly complex systems."

NEWBURG, OR, Jan. 10 - Wise Software Solutions reported 2004 revenues were up 15% in North America and 6% internationally over 2003. The CAM software and services provider said the growth was the result of increased direct selling efforts within North America, refinements to their distributor network throughout the rest of the world, and the success of GerbTool v. 13.

"Despite improvements in the world's economy, the EDA industry doesn't appear to be out of the woods yet," said Jeff Miller, vice president of sales and marketing. "I'm pleased that we achieved a third straight year of growth; however the market continues to be cautious. Our plan is to forge ahead in our efforts toward providing high-level analysis, verification, and tooling functionality at a price that users can afford."

KENOSHA, WI, Jan. 13 — Visitors to Pro-Mation's web site can now see
the company's newest systems, designs and technologies first-hand.

In a press release CEO Gary Goldberg said, "We added this feature to allow customers a way to keep updated on our continuous release of new products and technologies. By posting a clear photograph of each within a designated area on our site, visitors can conveniently contact us with any questions about the designs. We feel this user-friendly feature will provide the speed and flexibility our customers need to remain at the top of this ever-changing industry."

Pro-Mation makes equipment for PCB handling and conveying, selective laser soldering, AOI and other lines. 

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BOSTON, Jan. 7 -- Teradyne Inc. will lay off 320 employees and vacate a plant in California as part of an effort to cut expenses. The company will take an $11 million charge.

In an SEC filing today, Teradyne said it would terminate approximately 320 employees from its Connection Systems and Assembly Test divisions and vacate a facility leased by the company's Assembly Test division in Poway, CA.

The restructuring is expected to be completed during this quarter.