XML 34 R23.htm IDEA: XBRL DOCUMENT v3.23.2
Subsequent Event
6 Months Ended
Jun. 30, 2023
Subsequent Events [Abstract]  
SUBSEQUENT EVENT SUBSEQUENT EVENTOn July 19, 2023, Cadence entered into a definitive agreement with Rambus Inc. to acquire its serializer/deserializer (“SerDes”) and memory interface physical layer (“PHY”) IP business. The aggregate consideration will be approximately $110 million, subject to certain adjustments outlined in the agreement. Cadence’s acquisition of this business is expected to close during the third quarter of fiscal 2023, subject to certain closing conditions, and is expected to be funded through a combination of cash on hand and short-term borrowings.