Cadence acquires BETA CAE for $1.24B; 60% cash, 40% stock; close expected Q2 2024

CADENCE DESIGN SYSTEMS INC

Enterprise value of $1.24B; 60% cash (from cash on hand and/or new debt) and 40% Cadence stock.
Closing expected in Q2 2024, subject to HSR and other antitrust/FDI approvals.
Reverse termination fee of up to $60M payable if regulatory approvals not obtained by Nov 29, 2024.
Cadence to file Form S-3 resale registration for stock consideration promptly after close.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CADENCE DESIGN SYSTEMS INC entered into Share Purchase Agreement with shareholders of BETA CAE Systems International AG valued at $1.24 billion (effective 2024-03-02).

Action: entry
Agreement: asset purchase
Counterparty: shareholders of BETA CAE Systems International AG
Value: $1.24 billion
Effective: 2024-03-02

Exact text from the filing

Cadence Design Systems, Inc., a Delaware corporation (“Cadence”), entered into a Share Purchase Agreement (the “Purchase Agreement”) with the shareholders of BETA CAE Systems International AG

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CADENCE DESIGN SYSTEMS INC filing history →

Source: SEC EDGAR

accession 0000813672-24-000059

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