Codasip board initiates an expedited process to sell company

Codasip, the European RISC-V leader, announced an accelerated process to sell the company. Codasip has been awarded several grants and equity funding from various bodies of the European Union (EU) and national authorities totaling over €119 million, most of which is still to be received by the company in due course.

In addition, the company estimates the follow-on phases of the grants will total a further €210 million for a total of €329 million, and the company is part of new consortiums and projects that can bring in an additional €51 million or more in future financing.

With these substantial funds that are transferable to a buyer under reasonable terms, Codasip has received early interest in being acquired, which has triggered the board to initiate an expedited sale process. The process has officially been launched, and is planned to complete  within the next three months. The board will consider offers to acquire the company in total, or portions of the company.

Codasip has four key product areas with separable R&D teams:

• Studio, an electronic design automation (EDA) tool for developing and customizing processors.
• A portfolio of standard application and embedded RISC-V processors developed with Studio but also available in industry standard RTL and all available in Automotive grade (Safe and Secure as defined by ISO26262 and ISO/SAE 21434). Each of these processors can be customized with Studio. This portfolio is largely complete, and therefore, associated with a smaller portion of the EU financing.
• A portfolio of application and embedded RISC-V processors and complementary software based on CHERI (Capability Hardware Enhanced RISC Instructions), a cybersecurity standard that addresses memory safety violations which account for 70% or more of CVEs (Common Vulnerabilities and Exposures). This portfolio is largely complete and therefore associated with a smaller portion of the EU financing.
• A portfolio of high-performance application processors that are being developed and benefit from the bulk of the EU financing.

The company has a staff of approximately 250, of which 57% are hardware engineers and 30% are software engineers. The company has invested heavily to create what it believes to be a leading RISC-V processor development capability with all its R&D in Europe. As a licensing company, its products are highly configurable and customizable, making them and the team ideal for acquisition, either from another licensing company, or, by a company that wants the skillset only for internal use.

Interested parties can contact the company’s legal department at the email address: Legal@codasip.com. Potential buyers signing a standard confidentiality agreement will receive access to a virtual data room for due diligence, a process letter, and be offered meetings with senior management.