Cadence Design Systems Inc (CDNS)

[Lakers_w]

Ray Bingham, managing director with General Atlantic PE firm, CoB of CDNS
http://www.eetimes.com/news/semi/showArticle.jhtml?articleID=206104744

Freescale's issues, coupled by the slowing economy, have contributed to a "cooling" down period for private equity deals in the semiconductor industry, said Ray Bingham, managing director with General Atlantic LLC, a global growth equity firm. Bingham is also executive chairman of Cadence Design Systems Inc. and sits on the boards of STMicroelectronics and others.

"For Freescale, it's a challenging time," Bingham, a former board member of Freescale. He was on the board up until Freescale became a private company. He hasn't served on the board since Dec. 1, 2006.

Bingham, who predicted that private equity deals would pick up when the economy improves, also defended such transactions. Contrary to popular belief, there is accountability and the ability to upgrade one's management team in a private equity deal, he said.