April 12, 2016 | Israeli chip design startup Rocketick Technologies Ltd. has been acquired by US company Cadence Design Systems Inc. Financial details about the deal were not disclosed but sources close to the deal say that Cadence could be paying up to $40 million. Rocketick helps chip manufacturers reduce the overall time to market of new chip designs by up to 30%. Its flagship product, RocketSim, solves functional verification bottlenecks by complementing simulators with a multicore processor based co-simulator acceleration solution, offering over 10X faster simulations for highly complex designs. The Ramat Gan based Rocketick was founded in 2008 by CEO Uri Tal, CEO & VP R&D Tomer Ben-David, and CTO Shay Mizrachi, who all served in the IDF 8200 Intelligence Unit. Investors in the company include Intel Capital and Nvidia. Rocketick’s 25 employees in Israel will join Cadence’s Israel R&D operations. Cadence has offices in Petah Tikva, Rosh Ha’ayin and Haifa. In 2005, Cadence acquired Israeli electronics design solutions company Verisity for $280 million.