ACQUISITIONS (Tables)

6 Months Ended

Jun. 30, 2024

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The total purchase consideration was allocated to the assets acquired and liabilities assumed with Cadence’s acquisition of BETA CAE based on their respective fair values on the acquisition date as follows:

	Fair Value
	(In thousands)
Current assets	$	122,215
Goodwill	827,212
Acquired intangibles	345,000
Other long-term assets	16,890
Total assets acquired	1,311,317
Current liabilities	41,175
Long-term liabilities	40,907
Total liabilities assumed	82,082
Total purchase consideration	$	1,229,235

The total purchase consideration was allocated to the assets acquired and liabilities assumed with Cadence’s acquisition of Invecas based on their respective fair values on the acquisition date as follows:

	Fair Value
	(In thousands)
Current assets	$	50,608
Goodwill	42,480
Acquired intangibles	15,500
Other long-term assets	24,402
Total assets acquired	132,990
Current liabilities	17,114
Long-term liabilities	20,635
Total liabilities assumed	37,749
Total purchase consideration	$	95,241

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

Definite-lived intangible assets acquired with Cadence’s acquisition of BETA CAE were as follows:

	Fair Value		Weighted Average Amortization Period
	(In thousands)		(in years)
Existing technology	$	140,000	6.0 years
Agreements and relationships	190,000		15.0 years
Tradenames, trademarks and patents	15,000		7.0 years
Total acquired intangibles with definite lives	$	345,000	11.0 years