Cadence Design Systems, Inc. (Cadence) develops electronic design automation (EDA) software and hardware. The Company licenses software, sells or leases hardware technology, and provides design, methodology and education services throughout the world to help manage and accelerate electronics product development processes. Its range of products and services are used by the electronics companies to design and develop complex integrated circuits (ICs) and electronics systems. The Company offers its customers three license types for its software: perpetual, term and subscription.