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lip-bu is no longer exec chairman.. he left in may 2023 |
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===2020–2024===
Cadence had 9,300 employees and annual revenue of $3 billion in 2021.<ref name="OriginalRef_VItu_santafenewmexican.com"/> Most of its revenue came from licensing its software and intellectual property.<ref>{{Citation |year=July 22, 2022 |title=Big tech firm Cadence expands to drug simulation software through $500M deal |publisher=MedCity News |url=https://medcitynews.com/2022/07/big-tech-firm-cadence-expands-to-drug-software-simulations-through-500m-deal/ }}</ref> In April 2021, following a ''[[The Washington Post|Washington Post]]'' report on the use of Cadence and [[Synopsys]] technology in the [[People's Liberation Army]]'s [[military-civil fusion]] efforts,<ref>{{Cite news |last1=Nakashima |first1=Ellen |last2=Shih |first2=Gerry |date=April 9, 2021 |title=China builds advanced weapons systems using American chip technology |language=en-US |newspaper=[[The Washington Post]] |url=https://www.washingtonpost.com/national-security/china-hypersonic-missiles-american-technology/2021/04/07/37a6b9be-96fd-11eb-b28d-bfa7bb5cb2a5_story.html |access-date=2023-04-02 |issn=0190-8286}}</ref> U.S. legislators [[Michael McCaul]] and [[Tom Cotton]] requested that the [[United States Department of Commerce]] tighten controls on the sales of semiconductor manufacturing software.<ref>{{Cite web |date=April 15, 2021 |title=McCaul, Cotton Ask Administration to Restrict Sale of Chip-Making Software to China |url=https://foreignaffairs.house.gov/press-release/mccaul-cotton-ask-administration-to-restrict-sale-of-chip-making-software-to-china/ |access-date=2023-04-02 |website=[[United States House Committee on Foreign Affairs]] |language=en}}</ref><ref>{{Cite news |last=De Chant |first=Tim |date=April 16, 2021 |title=Congressmen ask Biden admin to keep chip design software away from China |work=[[Ars Technica]] |url=https://arstechnica.com/tech-policy/2021/04/china-shouldnt-get-us-semiconductor-design-software-congressmen-say/ |access-date=April 2, 2023}}</ref> On December 15, 2021, [[Anirudh Devgan]] assumed the role of Cadence president & CEO, after having been named Cadence president in 2017. Lip-Bu Tan retired as CEO and became executive chairman
Although most of Cadence's customers for decades were "traditional semiconductor firms," around 40% of Cadence's revenue by 2022 came from customers who were "systems" oriented, or seeking products tailored for various industries that utilized chips in a central role. Cadence was also increasingly designing customized chips for clients and having them manufactured by third parties such as [[Taiwan Semiconductor Manufacturing]], a practice which had become more popular in the face of worldwide chip shortages and shipping issues, according to [[Reuters]].<ref name="Ref_Nellis2_Reuters.com"/> By late 2022, Cadence had clients such as [[Tesla, Inc.|Tesla]] and [[Apple Inc.]]<ref name="Ref_Nellis2_Reuters.com"/> Cadence acquired [[OpenEye Scientific Software]] for $500 million in September 2022, rebranding the company OpenEye Cadence Molecular Sciences and making it into a business unit.<ref name="OriginalRef_VItu_santafenewmexican.com"/> OpenEye signed [[Pfizer]] as a software client in October 2023.<ref>{{cite news |date=October 25, 2023 |title=Cadence Expands Pfizer's License to Molecular Design Software |url=https://www.cadence.com/en_US/home/company/newsroom/press-releases/pr/2023/cadence-expands-pfizers-license-to-molecular-design-software.html |work=Cadence.com |access-date=}}</ref>
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