Zepos & Yannopoulos acted, in cooperation with Milbank LLP, for the shareholders of BETA CAE Systems International AG (“BETA CAE”), a leading provider of multi-domain engineering simulation solutions, on the sale of BETA CAE to Cadence Design Systems, Inc (“Cadence”), a California-based leading EDA and Intelligent System Design provider.
BETA CAE, initially established in Thessaloniki, Greece and today headquartered in Lucerne, Switzerland, with 13 additional offices worldwide, is well known for its groundbreaking, innovative, high-performance simulation software and best-in-class services with a global footprint. The company's software suite, including ANSA and META, has maintained a leading position globally for over 20 years, particularly in the automotive industry, delivering solutions to the top 10 global automobile manufacturers and most Formula One racing teams, as well as to leading customers in the aerospace, industrial, and healthcare industries. The addition of BETA CAE’s proven technologies and talent will accelerate Cadence’s Intelligent System Design™ strategy. This is a significant worldwide transaction with Greek roots, in the sector of technology, with a purchase price of approximately 1.24 billion US$.
Our firm advised the shareholders in all Greek law matters pertaining to the signing of the transactional documentation and the closing of the transaction, which will take place in the second quarter of 2024 subject to certain closing conditions. Our team was led by Stefanos Charaktiniotis, partner, head of M&A and Elpida Karathodorou, senior associate. Manolis Zacharakis, partner, assisted on all employment matters, while Elina Filippou, partner, advised on all tax aspects of the transaction.