Cadence: The U.S. Department of Commerce requires prior permission for exporting EDA to China, and the impact is being assessed

Cadence's latest announcement states that on May 23, it received a notification from the U.S. Department of Commerce's Bureau of Industry and Security (BIS) that when the trading party is located in China, exporting, re-exporting, or transferring within the country electronic design automation software and technology classified under export control classification numbers 3D991 and 3E991 from the Commerce Control List requires prior authorization. In response to this regulation, Cadence indicated that strong customer design activities continue to drive robust momentum in global business. The new requirements are relatively complex, and the company is communicating with BIS to obtain further clarification while assessing their impact on business and financial performance