Cadence Finalizes Acquisition of BETA CAE Systems
Cadence continues to expect BETA CAE to contribute about $40 million to its 2024 revenue.
June 4, 2024
Cadence Design Systems, Inc. has completed its previously announced acquisition of BETA CAE Systems International AG, a provider of multi-domain, engineering simulation solutions. BETA CAE accelerates Cadence’s Intelligent System Design strategy by expanding its multiphysics system analysis suite with complementary products, enabling Cadence to offer a more comprehensive portfolio to its customers. BETA CAE has a footprint in the automotive vertical sector and at 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.
Sources: Press materials received from the company and additional information gleaned from the company’s website.
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