01—Abstract
Summary
Summary of the 8-K/A filed September 2, 2010. Cited figures are marked; the original filing is the authoritative source.
This amended Current Report (8-K/A) from Cadence Design Systems, Inc. (CDNS) filed on September 2, 2010, supplements a previous 8-K filing from June 18, 2010.
The primary purpose of this amendment is to provide the necessary financial information related to Cadence's acquisition of Denali Software, Inc. (Denali), which was completed on June 18, 2010. Investors should note that this filing includes audited financial statements for Denali for the year ended December 31, 2009, and unaudited financials for the three months ended March 31, 2010, as well as pro forma combined financial statements reflecting the impact of the acquisition. The inclusion of these financial statements is crucial for investors to understand the financial contribution and potential synergies of the Denali acquisition.
The pro forma statements, in particular, offer a look at how the combined entity would have performed historically, allowing for a more informed assessment of the transaction's strategic and financial implications for Cadence going forward. This filing serves as an important disclosure update for stakeholders monitoring Cadence's growth and integration strategies.
02—Key points
Key Highlights
- Cadence Design Systems, Inc. (CDNS) filed an 8-K/A on September 2, 2010, to supplement a prior 8-K report concerning the acquisition of Denali Software, Inc.
- The acquisition of Denali Software, Inc. was completed on June 18, 2010.
- This amendment provides required financial information for the acquired business (Denali).
- Includes audited consolidated financial statements for Denali for the year ended December 31, 2009.
- Includes unaudited condensed consolidated financial statements for Denali for the three months ended March 31, 2010.
- Presents unaudited pro forma condensed combined financial statements of Cadence and Denali, reflecting the acquisition's impact.
- The pro forma information covers periods including the fiscal year ended January 2, 2010, and the three months ended April 3, 2010.
03—Questions
Frequently Asked Questions
What is the main purpose of this 8-K/A filing?
The main purpose of this 8-K/A filing is to provide the required financial statements and pro forma financial information related to Cadence Design Systems' acquisition of Denali Software, Inc., which was initially reported in a previous 8-K filing.
When was the acquisition of Denali Software, Inc. completed?
The acquisition of Denali Software, Inc. was completed on June 18, 2010.
What specific financial information is included in this filing?
This filing includes the audited consolidated financial statements of Denali for the year ended December 31, 2009, and unaudited financial statements for the three months ended March 31, 2010. It also includes unaudited pro forma condensed combined financial statements for the combined entity.
Why is pro forma financial information important for investors in this context?
Pro forma financial information helps investors understand the combined financial picture of Cadence and Denali as if the acquisition had occurred at an earlier date. This allows for a better assessment of the potential financial performance and impact of the acquisition on Cadence's overall business.
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