---
schema_version: "secwatch.filing_event.v1"
accession: "0000813672-25-000126"
form_type: "8-K"
ticker: "CDNS"
cik: "0000813672"
company_name: "CADENCE DESIGN SYSTEMS INC"
filed_at: "2025-09-04T23:59:59+00:00"
generated_at: "2026-05-17T08:24:21.039251+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Cadence to acquire Hexagon design & engineering unit for €2.70B

## Summary
- Enterprise value of €2.70B; €1.89B in cash plus ~€810M in Cadence common stock.
- Stock consideration based on 20-day VWAP of Cadence stock prior to close, converted to euro.
- Closing expected in Q1 2026, subject to antitrust and foreign investment approvals.
- Reverse termination fee of up to €175M payable if deal blocked by regulators.
- Cash consideration to be funded from cash on hand and existing debt facilities.

## SEC filing metadata
- accession: 0000813672-25-000126
- form_type: 8-K
- ticker: CDNS
- cik: 0000813672
- company_name: CADENCE DESIGN SYSTEMS INC
- filed_at: 2025-09-04T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 3.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/813672/000081367225000126/0000813672-25-000126-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/813672/000081367225000126/cdns-20250904.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000813672-25-000126
- JSON: https://secwatch.observer/filing/0000813672-25-000126.json
- Plain text: https://secwatch.observer/filing/0000813672-25-000126.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.