Benzinga | Apr 15, 2021 12:20PM EDT

Cadence Acquires CFD Mesh Generator Pointwise For Undisclosed Sum

* Cadence Design Systems Inc (NASDAQ: CDNS) has acquired Pointwise, Inc, a mesh generator for computational fluid dynamics (CFD). The financial terms of the transaction were not disclosed.

* The addition of Pointwise supported the Cadence Intelligent System Design strategy and extended its system analysis portfolio, complementing the recently acquired NUMECA CFD technology.

* The acquisition will help Cadence address critical complexities in the analysis workflow, offering rapid insight, predictability, and high accuracy of the engineering teams' system design in advance before physical production, stated Cadence SVP Tom Beckley.

* Cadence held $928.4 million in cash and equivalents as of Jan. 2, 2021.

* Price action: CDNS shares traded higher by 1.89% at $147.34 on the last check Thursday.