Cadence Design Systems shares rise 1.33% intraday after acquiring Hexagon's design & engineering business for $3.15 billion.

Cadence Design Systems, Inc. rose 1.33% in intraday trading, with the company announcing its acquisition of Hexagon's design and engineering business for 2.7 billion euros, or about $3.15 billion. The acquisition includes Hexagon's MSC Software business, which is an engineering simulation and analysis product. The deal is set to close in the first quarter of 2026, with Cadence planning to pay 70% in cash and 30% through issuing its stock to Hexagon. This acquisition accelerates Cadence’s Intelligent System Design™ strategy, significantly expanding the Cadence® System Design & Analysis portfolio and reinforcing its commitment to delivering comprehensive solutions for the world’s most demanding design challenges.