05:22 PM EDT, 09/04/2025 (MT Newswires) -- Cadence Design Systems ( CDNS ) said late Thursday it has agreed to acquire the design and engineering business of Hexagon AB, including MSC Software, in a deal valued at about 2.7 billion euros ($3.15 billion).

Cadence said it will fund the transaction with 70% cash and 30% through issuance of common stock to Hexagon.

The deal is expected to close in the first quarter of 2026, pending regulatory approvals and other customary conditions.