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Cadence Announces The Acquisition Of Utitec, Inc.

Jan 03, 2023•almost 3 years ago

Acquiring Company

Cadence

Acquired Company

Utitec

San JoseSoftware

Description

Cadence, Inc., a leading contract manufacturer of medical and drug delivery devices and specialty commercial products, announced today that it has acquired Utitec, Inc., a manufacturer specializing in miniature, deep drawn medical device and commercial components. Utitec is headquartered in Watertown, Conn., with an additional medical facility located in Alajuela, Costa Rica.

Company Information

Company

Cadence

Location

2655 Seely Avenue

San Jose, California, United States

About

Cadence is a market leader in AI and digital twins, pioneering the application of computational software to accelerate innovation in the engineering design of silicon to systems. Our design solutions, based on Cadence’s Intelligent System Design™ strategy, are essential for the world’s leading semiconductor and systems companies to build their next-generation products from chips to full electromechanical systems that serve a wide range of markets, including hyperscale computing, mobile communications, automotive, aerospace, industrial, life sciences and robotics. In 2024, Cadence was recognized by the Wall Street Journal as one of the world’s top 100 best-managed companies.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed