SAN JOSE, Calif.-- June 03, 2024 -- Cadence Design Systems, Inc. (Nasdaq: CDNS) today announced it has completed its previously announced acquisition of BETA CAE Systems International AG, a leading provider of multi-domain, engineering simulation solutions. BETA CAE accelerates Cadence’s Intelligent System Design™ strategy by expanding its multiphysics system analysis suite with highly complementary products, enabling Cadence to offer a more comprehensive portfolio to its customers. BETA CAE has a very strong footprint in the automotive vertical sector and at leading companies in the aerospace, industrial and healthcare industries.

BETA CAE has annual revenue of about $90 million, and Cadence continues to expect BETA CAE to contribute about $40 million to its 2024 revenue. Cadence still expects the transaction to be approximately 12 cents dilutive to its 2024 earnings per share and become accretive in 2025, both on a non-GAAP basis.