Latham & Watkins Advises Cadence in Acquisition of Hexagon’s Design and Engineering Business for Approximately €2.7 Billion

Cadence (Nasdaq: CDNS) announced that it has entered into a definitive agreement to acquire the design and engineering (D&E) business of Hexagon AB, which includes its MSC Software business — a pioneer in engineering simulation and analysis solutions. Under the terms of the agreement, Cadence will pay approximately €2.7 billion for the business, with 70% of the consideration to be paid in cash and 30% to be paid through the issuance of Cadence common stock to Hexagon.

Latham & Watkins LLP represents Cadence in the transaction with a corporate deal team led by Bay Area partners Mark Bekheit and Tessa Bernhardt, with associates Lauren Lefcoe, Valentina Oliver, Tim Plummer, Sabine Dahi, and Kelsey MacKinnon. Advice was provided on tax matters by partner Grace Lee, with associate Gregory Conyers; on intellectual property matters by counsel Arielle Singh, with associates Fiona Gillan, Julian Savelski, Karen Sung, and Karen Lee; on US benefits and compensation matters by partners James Metz and James Robinson, with associate Jennifer Lin; on US and employment matters by counsel Sandra Benjamin, with associates Jocelyn Wexler and Elizabeth Duncan; on global regulatory matters by partners Josh Holian, Jana Dammann de Chapto, Tomas Nilsson, and Paul Rosen, with associates Hanna Nunez Tse, James Mathieson, Laura Lange, Panos Kokkinidis, Enno Mensching, Kamilla Zembala, and Christine Kalpin; on insurance matters by counsel Hannah Cary, with associate Madeline Hodges; on securities matters by partner Kathleen Wells, with associate Raul Gonzalez-Casarrubias; on debt finance matters by partner Stephanie Teicher, with associates Chen Tang and Linda Xu; on data privacy matters by partner Robert Brown, with associate Kiara Vaughn; on US export controls matters by partners Les Carnegie and Andrew Galdes, with associates Eric Green, Matthew Gregory, and Monica Calce; and on US government contracts matters by partners Kyle Jefcoat and Dean Baxtresser, with associates Genevieve Hoffman and Blake Page. The transaction also included support by Latham team members across the globe, including in the UK, France, Germany, Japan, and Korea.