Cadence Design Systems, Inc. (NASDAQ: CDNS) has announced the acquisition of NUMECA. The firm has signed a contract to buy a computer software company, NUMECA International. It has expected that the acquisition will be finalized in the first quarter of 2021. This is the greatest achievement of the company as this deal will enhance the customers' ability of Cadence to design the exciting product for the future.

Cadence, a software application company has continued its struggle to bring innovation and this acquisition has proved the company’s commitment towards its customers. The technology of NUMECA targets the high-growth CFD market segment, which has an approximate $1.68B TAM.

The core competency of NUMECA in CFD includes many industries and applications including aerospace, automotive, industrial, and marine, with its tried-and-tested technologies implemented by industry leaders such as ArianeGroup, NASA, Ford, and Honda. The technology of NUMECA will also make a significant contribution to Cadence prime system analysis solutions for electronic subsystems, integrated circuits (ICs), and full system designs.

Share of Cadence Design Systems, Inc. (NASDAQ: CDNS) soared 2.76% at $141.42 during the trading session of Wednesday. It has recorded a trading volume of 393.33K as compared to the average volume of 1.52 million. In the past 52-weeks of trading, this company’s share has fluctuated between the low range of $51.39 and the high range of $138.54. Cadence Design Systems, Inc. has a total market capitalization of $38.60 billion.

The firm has not disclosed the financial terms of the agreement. This acquisition is best for both companies because both the firms share a common culture of innovation in computational software. NUMECA and Cadence Design Systems both will join hands to overcome the challenges in the current market.