( ESNUG 521 Item 1 ) -------------------------------------------- [03/28/13]
From: [ A Little Bird ]
Subject: Leaked internal Atrenta memo finds $150 M Cadence offer "way off"
Hi, John,
This was sent to all sales staff and managers at Atrenta on March 1, 2013.
Anon please.
- [ A Little Bird ]
---- ---- ---- ---- ---- ---- ----
From: Mike Gianfagna, VP of Atrenta Corporate Marketing
Many of you may have seen a post today regarding Atrenta on the DeepChip
"rumor mill".
> - The fact that Charlie Schadewitz, VP of Worldwide Sales at Atrenta,
> has just now suddenly left the company is flaring up gossip that
> Cadence is going to buy Atrenta for $150 million vs. Atrenta going
> IPO -- "What sane VP of Sales would leave before an IPO cashout???"
>
> BTW - Atrenta EDA sales hotshot, Craig Shirley, jumped from Atrenta
> to join 0.5 billionare Dean Drako's IC Manage roughly 6 weeks ago.
> Begs the question -- What do Charlie and Craig know that we don't?
>
> Ironically, Atrenta's 2013 Sales Kick-off is this week. I wonder how
> CEO Ajoy Bose is going to explain this? "We're merging with Cadence.
> I'll be rich. And you Atrenta Sales guys will all be laid off once
> you train CDNS Sales how to hustle SpyGlass to the customers! Yeah!"
>
> - from http://www.deepchip.com/items/0510-03.html
We will be responding formally on DeepChip, but until that post is live,
here are key points to communicate to customers or employees who may have
questions about this post.
*This email is for your information only -- do not forward.*
- Atrenta is now a successful, high-profile private company that
is moving toward an IPO. That also makes us an acquisition
target. There is nothing unusual here. Companies will approach
us from time to time to see if we are a good acquisition candidate.
- There are no negotiations occurring at present to sell Atrenta.
This applies to Cadence or any other company.
- Atrenta finds the rumored sale price to Cadence of $150 M to be
way off the mark. The management team and Board of Directors
hold great pride in Atrenta and do not consider this figure
to be a credible reflection of Atrenta's real worth.
Please stay within these talking points in conversations inside or outside
the company, especially with customers.
Thanks,
- Mike Gianfagna
Atrenta, Inc. San Jose, CA
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