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They felt that hardware was going to become a commodity owned by big computer companies, so instead they would select an existing computer system as the hardware platform for the Computer Aided Engineering CAE programs they would build.
By February , most of the start-up team had been identified; by March, the three executive founders, Tom Bruggere , Gerry Langeler and Dave Moffenbeier had left Tektronix, and by May the business plan was complete. Mentor Graphics was one of the first companies to attract venture capital to Oregon.
Apollo Computer workstations were chosen as the initial hardware platform. Based in Chelmsford , Apollo was less than a year old and had only announced itself to the public a few weeks prior to when the founders of Mentor Graphics began their initial meetings. When Mentor entered the CAE market the company had two technical differentiators: the first was the software - Mentor, Valid, and Daisy each had software with different strengths and weaknesses.
The second, was the hardware - Mentor ran all programs on the Apollo workstation, while Daisy and Valid each built their own hardware. By the late s, all EDA companies abandoned proprietary hardware in favor of workstations manufactured by companies such as Apollo and Sun Microsystems.
After a frenzied development, the IDEA product was introduced at the Design Automation Conference , though in a suite and not on the floor. On 15 August , Cadence withdrew this offer quoting an inability to raise the necessary capital and the unwillingness of Mentor Graphics' Board and management to discuss the offer. Walden C. Rhines is the company's chairman  of the board and chief executive officer whereas Gregory K. Hinckley serves as the president  of the corporation.
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