Cadence Design Systems, an American multinational computational software company, agreed to acquire BETA CAE Systems, a multi-domain, engineering simulation solutions provider, for $1.24bn. “For more than two decades we’ve led the evolution of engineering simulation, first by establishing our reputation in the land mobility sector, and then successfully expanding to broad deployments across aerospace, defense, biomechanics, electronics, energy and other industries. We are very excited to join the Cadence team and are looking forward to advancing success through our shared values and passion for innovation and engineering, and our unwavering commitment to customers and partners,” Panagiotis Kouvrakis, BETA CAE Systems Chairman.