Cadence Design Systems Issues Shares for Hexagon Smart Solutions Acquisition

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issued 3,224,473 shares of its common stock as partial consideration for the acquisition of Hexagon Smart Solutions AB's design and engineering business. The issuance was made in reliance on exemptions from registration under the Securities Act of 1933.

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About Cadence Design Systems Inc.

Cadence Design Systems Inc. is a pivotal entity within the technology sector, specializing in electronic design automation (EDA) software and engineering services. Its software suite underpins the design process of integrated circuits (ICs) and electronic systems, streamlining tasks related to simulation, verification, and synthesis. A crucial tool for semiconductor companies, Cadence's products facilitate the creation of advanced electronic chips and devices, impacting industries such as telecommunications, consumer electronics, and automotive. As a key player in the semiconductor industry’s supply chain, Cadence has positioned itself as a leader in delivering cutting-edge design solutions that drive innovation and efficiency. By enabling rapid advancements in chip design, Cadence plays a vital role in propelling technological progress across various sectors.