US EditionCadence to plead guilty and pay $140 million to US for China sales
UNITED STATES, JUL 28 – Cadence Design agreed to pay over $140 million for illegal sales to Chinese military entities, including a university involved in nuclear simulation, violating U.S. export controls.
- On Monday, Cadence Design agreed to plead guilty and pay more than $140 million, according to the Justice Department, for selling products to China's NUDT, a military university involved in nuclear simulation.
- Cadence Design sold chip design software and hardware to front companies representing NUDT, violating export controls since NUDT has been on the U.S. Commerce Department's restricted trade list since 2015.
- A follow-up subpoena from the U.S. Justice Department arrived in November 2023, completing the investigation that began more than four years ago, according to the company filing.
- Following the announcement, Cadence will hold a call at 2 p.m. Pacific Time on Monday, with shares rising 7.8%.
- Amid new trade talks, the case highlights U.S. commitment to enforcing export controls, with no specific revenue data provided for Cadence's China business last year.
15 Articles
15 Articles
Cadence to Pay $140 Million for Selling Chip Design Tech to Blacklisted Chinese University
Cadence Design Systems, a leading developer of electronic design automation (EDA) software and hardware, has agreed to pay a $140 million fine to settle claims that it illegally sold semiconductor design technology to a Chinese military university on the U.S. government’s export blacklist. The San Jose-based technology company admitted wrongdoing as part of a plea agreement announced on July 28 by the U.S. Attorney’s Office for the Northern Dist…
The Mercury news
siliconvalley.comSan Jose-based Cadence Design admits to illegally supplying China, pays fine
The Silicon Valley company, a maker of chip design tools, said it took a one-time charge of $140.6 million related to settling cases brought by the Department of Justice and the Department of Commerce’s Bureau of Industry and Security.
Cadence Design's $140 Million Export Control Violation Settlement with U.S.
Cadence Design's $140 Million Export Control Violation Settlement with U.S. Cadence Design Systems has settled with the U.S. government, agreeing to pay over $140 million after admitting to illegal sales of its chip design products to a Chinese military university. The Justice Department revealed that the firm violated export controls, selling software and hardware to front companies representing China's National University of Defense Technology…
Cadence to plead guilty and pay $140 million to US for China sales
Cadence Design agreed to plead guilty and pay more than $140 million to resolve U.S. charges for selling its chip design products to a Chinese military university believed to be involved in simulating nuclear explosions, the Justice Department said on Monday.
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