EDA software supplier Ansoft Corp. has agreed to be acquired by ANSYS Inc., a global provider of simulation software and technologies to optimize product-development processes. The acquisition, for approximately $832 million in cash and ANSYS common stock, is expected to close in the second quarter and will result in Ansoft becoming a wholly owned subsidiary of ANSYS.
Ansoft’s products simulate high-performance electronics designs used in mobile communication and Internet devices, broadband networking components and systems, ICs, pc boards, and electromechanical systems. The acquisition is ANSYS’ first foray into the broader EDA software industry and will enhance the breadth, functionality, usability, and interoperability of the ANSYS portfolio of engineering simulation solutions. The combination is expected to increase operational efficiency, lower design and engineering costs for customers, and accelerate development and delivery of new and innovative products to the marketplace.
“We are very excited about the state-of-the-art technologies that Ansoft adds to ANSYS’ simulation capabilities,” said James E. Cashman III, president and CEO of ANSYS. “Both companies have a strong commitment to their customers and employees, and share a passion for the development of innovative products and services and a history of world-class execution. This combination will further strengthen these values and will allow us to better serve our customers by accelerating the delivery of comprehensive, customer-driven engineering simulation solutions and by enabling us to provide high-quality support throughout the world.”
Zoltan J. Cendes, the founder, chairman of the board and CTO of Ansoft, said, “The combination of our R&D teams, complementary technological strengths and our commitment to quality will enhance our ability to deliver comprehensive, innovative, world-class simulation software technologies that customers demand.” In conjunction with this transaction, Cendes will join ANSYS’ board of directors following the closing of the transaction.