Joe Costello, touted as a likely chief executive of Apple Computer, quit Cadence Design Systems on Monday to join Knowledge Universe, the training company funded by Larry Ellison and junk bond supremo, Michael Milken.
Knowledge Universe, which invested $170 million in the London-based recruitment and training outfit, CRT, was established in 1996 and since then, it has acquired or invested in about half a dozen companies with a combined turnover of $700 million. Most recently, it acquired Emeryville-based Leapfrog, an educational interactive systems manufacturer.
Costello spent 13 years with Cadence, building up a $1 billion business specialising in chip design software and he leaves his successor, senior vice president James Harding, with a company in sparkling financial fettle.
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