Cadence Design Admits to Illegally Supplying China, Pays Fine

Cadence Design Systems Inc. pleaded guilty to charges accusing the company of violating US export controls by selling hardware and software to China’s National University of Defense Technology.

The San Jose, California-based 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.