Cadence Design Systems to Acquire Hexagon's Design & Engineering Business to Enhance AI and System Design Capabilities
Reuters
Sep 05
Cadence Design Systems to Acquire Hexagon's Design & Engineering Business to Enhance AI and System Design Capabilities
Cadence Design Systems Inc. has announced a definitive agreement to acquire the Design & Engineering business of Hexagon AB, which includes its MSC Software business, for approximately €2.7 billion. The acquisition aims to enhance Cadence's Intelligent System Design strategy by expanding its System Design & Analysis portfolio. This move strengthens Cadence's presence in the structural analysis market and facilitates the development of a comprehensive multiphysics platform. The transaction will be paid with 70% in cash and 30% through the issuance of Cadence common stock to Hexagon. Anirudh Devgan, Cadence's president and CEO, emphasized that the integration of Hexagon's simulation capabilities will enable a broader vision encompassing the full spectrum of physical behavior, crucial for future complex systems design.
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