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Subsequent Event | 6 Months Ended
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Jun. 30, 2023
Subsequent Events [Abstract] |
SUBSEQUENT EVENT | SUBSEQUENT EVENTOn July 19, 2023, Cadence entered into a definitive agreement with Rambus Inc. to acquire its serializer/deserializer (“SerDes”) and memory interface physical layer (“PHY”) IP business. The aggregate consideration will be approximately $110 million, subject to certain adjustments outlined in the agreement. Cadence’s acquisition of this business is expected to close during the third quarter of fiscal 2023, subject to certain closing conditions, and is expected to be funded through a combination of cash on hand and short-term borrowings.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483399/855-10-50-2 + Details
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