Cadence settles export control violations; pleads guilty to conspiracy, pays $140.6M

CADENCE DESIGN SYSTEMS INC

Settlements with BIS and DOJ resolve violations from 2015-2021 involving $45.3M in sales to a China customer without authorization.
Cadence pleads guilty to one count of conspiracy; plea includes 3-year probation and enhanced compliance obligations.
Aggregate net penalties and forfeitures of $140.6M payable in fiscal Q3 2025.
BIS administrative settlement requires two annual internal export compliance audits as condition to export eligibility.
Plea agreement subject to court approval; Cadence says it has significantly enhanced compliance programs since conduct occurred.

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