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Cadence Completes Acquisition of OpenEye Scientific

SAN JOSE, Calif. & SANTA FE, N.M — September 1, 2022.— Cadence Design Methods, Inc. (Nasdaq: CDNS) introduced in the present day that it has accomplished the acquisition of OpenEye Scientific Software program, Inc. (“OpenEye”). The addition of OpenEye’s applied sciences and skilled group accelerates the Cadence® Clever System Design technique by extending Cadence’s computational software program core competency to molecular modeling and simulation that’s focused to life sciences.

OpenEye, an trade chief in computational molecular design, has pioneered physics-based approaches and the cloud-native Orion® software program platform to speed up advances in human well being. Its merchandise are utilized by pharmaceutical and biotechnology firms for drug discovery, and its clients embrace 19 of the highest 20 world pharmaceutical firms comparable to Pfizer and AstraZeneca.

The acquisition will enable pharmaceutical and biotechnology firms to profit from extra strong drug discovery options that mix OpenEye’s modern molecular modeling and simulation software program options for drug discovery with Cadence’s algorithmic and solver experience, environment friendly massive knowledge administration infrastructure, and main AI/ML and cloud options.

The mixture consideration of the transaction is roughly $500 million, and the acquisition is anticipated to contribute immaterial income this 12 months and about $40 million in fiscal 12 months 2023.

About Cadence

Cadence is a pivotal chief in digital techniques design, constructing upon greater than 30 years of computational software program experience. The corporate applies its underlying Clever System Design technique to ship software program, {hardware} and IP that flip design ideas into actuality. Cadence clients are the world’s most modern firms, delivering extraordinary merchandise from chips to boards to finish techniques for probably the most dynamic market functions, together with hyperscale computing, 5G communications, automotive, cell, aerospace, client, industrial and healthcare. For eight years in a row, Fortune journal has named Cadence one of many 100 Greatest Corporations to Work For. Study extra at

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