10:56 AM EDT, 06/03/2024 (MT Newswires) -- Cadence Design Systems ( CDNS ) said Monday it has completed the acquisition of BETA CAE Systems International, an engineering simulation solutions provider.

BETA CAE enhances the company's intelligence system design strategy with the expansion of its multiphysics system analysis suite, Cadence said.

The company still anticipates the deal to be roughly $0.12 dilutive to its 2024 earnings per share and be accretive next year on a non-GAAP basis, Cadence added.

Cadence announced its agreement to acquire BETA CAE for $1.24 billion in March.

According to the agreement, 60% of the purchase price will be settled in cash, while the remaining 40% will be financed through the distribution of Cadence common shares among BETA CAE shareholders.

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