Cadence Design Systems acquires Hexagon design business

FEBRUARY 24, 2026

Cadence Design Systems acquires Hexagon design business

TARGET

Provides CAE simulation software including MSC Nastran and Adams for structural analysis, multibody dynamics, and acoustics, sold to aerospace and automotive OEMs.

Revenue	$160 million incremental 2026 revenue (Cadence projection)
Ownership	Subsidiary
Prior owner	Hexagon
Investors	Hexagon AB (owner at time of deal), previously Symphony Technology Group (STG Partners), Elliott Investment Management, ValueAct Capital Management
Capital raised	$138M
Headcount	1,100+ FTEs
Headquarters	Newport Beach, California
Sell-side advisor	—

ACQUIRER

Cadence Design Systems

provides electronic design automation software, hardware, and IP enabling semiconductor and systems companies to design chips, boards, and full electromechanical systems

Deal value	€2.7B purchase price
Ownership	Publicly traded (NASDAQ: CDNS)
Headcount	13,800 FTEs
Headquarters	San Jose, California
Leadership	Anirudh Devgan, President and Chief Executive Officer
Buy-side advisor	—

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Cadence Design Systems -> Hexagon design business  (2026-09-11)
strategic_acquisition | DevTools/Infrastructure | €2.7 billion purchase price | closed
Target: Provides CAE simulation software including MSC Nastran and Adams for structural analysis, multibody dynamics, and acoustics, sold to aerospace and automotive OEMs.
Website: mscsoftware.com | Buyer site: cadence.com
HQ: Newport Beach, California | Ownership: subsidiary | Seller: Hexagon | Buyer ownership: public (NASDAQ: CDNS)
Advisors - not yet credited
Source: Thematic - https://thematichq.com/software/d/cadence-design-systems-hexagon-design-business.html

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