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Latham & Watkins Advises Cadence in US$1.24 Billion Acquisition of BETA CAE

March 5, 2024
Cross-border team represents the electronic systems design company in cash and stock transaction.

Cadence Design Systems, Inc. (Nasdaq: CDNS) has announced that it has entered into a definitive agreement to acquire BETA CAE Systems International AG, a leading system analysis platform provider of multi-domain, engineering simulation solutions. Under the terms of the definitive agreement, Cadence will pay approximately US$1.24 billion for the transaction, with 60 percent of the consideration to be paid in cash and 40 percent to be paid through the issuance of Cadence common stock to current BETA CAE shareholders.

Latham & Watkins LLP represents Cadence in the transaction with a cross-border deal team led by Bay Area corporate partner Mark Bekheit and London corporate partner Emily Cridland, with associates Jennifer Cadet, Zeynep Kocabas, and Catherine Fellows. Advice was also provided on employment matters by London partner Sarah Gadd, Bay Area partner Jay Metz, and Chicago counsel Laura Waller, with associates Jess McIntosh and Nimra Syed; on data and technology transactions matters by London partner Fiona Maclean and Bay Area counsel Arielle Singh, with associates Fiona Gillan, Georgina Hoy, Liz Longster, Clarence Cheong, and Kate Burrell; on regulatory matters by Bay Area partner Joshua Holian, London partner Jonathan Parker, Brussels counsel Tomas Nilsson and Philipp Studt, and Washington, D.C. counsel Britton Davis, with associates Hanna Nunez Tse, Panagiotis Kokkinidis, and James Mathieson; on sanctions and government contracts matters by Washington, D.C. partners Les Carnegie and Kyle Jefcoat and London partner Robert Price, with associates Amaryllis Bernitsa, Eric Green, and Matthew Crawford; on tax matters by Bay Area partner Grace Lee and London partner Karl Mah, with associates Jacob Meninga and Aaron Bradley; and on US securities law matters by Bay Area partner Kathleen Wells.