---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-027390"
form_type: "8-K"
ticker: "CEVA"
cik: "0001173489"
company_name: "CEVA INC"
filed_at: "2023-10-02T23:59:59+00:00"
generated_at: "2026-06-10T06:16:14.609276+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# CEVA completes sale of Intrinsix Corp. to Cadence for $35M cash

## Summary
- Sale closed Oct 2, 2023; Intrinsix now a wholly owned subsidiary of Cadence Design Systems.
- $35M gross consideration less $7.5M intercompany repayment, net ~$27.5M.
- $300K escrow for post-closing adjustments; $3.5M escrow held 18 months for indemnification.
- Sale previously announced Sep 14, 2023 under Share Purchase Agreement filed as Exhibit 2.1.

## SEC filing metadata
- accession: 0001437749-23-027390
- form_type: 8-K
- ticker: CEVA
- cik: 0001173489
- company_name: CEVA INC
- filed_at: 2023-10-02T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1173489/000143774923027390/0001437749-23-027390-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1173489/000143774923027390/ceva20231001_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-027390
- JSON: https://secwatch.observer/filing/0001437749-23-027390.json
- Plain text: https://secwatch.observer/filing/0001437749-23-027390.txt

## Key facts
- M&A Transactions
  CEVA INC completed a disposition involving Cadence Design Systems, Inc. for $35 million in cash (closed 2023-10-02).
  - Action: disposition
  - Counterparty: Cadence Design Systems, Inc.
  - Consideration: $35 million in cash
  - Closing: 2023-10-02
  source text: sold Intrinsix pursuant to the Share Purchase Agreement, made and entered into on September 14, 2023, by and among the Company, Intrinsix and Cadence (the “Agreement”), for $35 million in cash, less approximately $7.5 million repaid by Intrinsix to the Company in respect of an intercompany obligation and subject to other certain purchase price adjustments as
  evidence_url: https://www.sec.gov/Archives/edgar/data/1173489/000143774923027390/0001437749-23-027390-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.