Verisity provided software tools that assisted the developers of electronic systems and integrated circuits in verifying the correctness of their designs. This process was one of the most problematic, expensive and time-consuming stages in the development of hardware and software products.
Exit: Verisity carried out an IPO on NASDAQ in March 2001 and subsequently raised $28M. In April 2005, Verisity was bought by California-based Cadence Design Systems (NASDAQ: CDNS).