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ANSYS plus ANSOFT Deal is Done !
Location: Blogs Russ Henke |
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| Posted by: Russ Henke |
8/2/2008 7:33 AM |
In the June 29, 2008 blog entry in this space, entitled, “Will the ‘Big 3’ EDA Vendors soon become the ‘Big 2’??”, it was parenthetically mentioned that MCAE vendor ANSYS was in the process of absorbing EDA vendor ANSOFT.
On July 8, we reported that ANSYS had received SEC clearance for the ANSOFT acquisition on June 23, 2008, and that a special meeting of the ANSOFT stockholders to approve the transaction had been set for July 23, 2008.
Well, the deal is done! On July 31, ANSYS announced that it had successfully completed the acquisition of ANSOFT in a series of mergers for approximately 12.2 million shares of ANSYS common stock, including 1.9 million shares pursuant to assumed stock options, and approximately $387 million in cash, plus expenses, using a combination of existing cash and proceeds from approximately $355 million of committed bank financing to fund the transaction.
Dr. Zoltan Cendes, founder and Chief Technology Officer of ANSOFT, will become a Chief Technology Officer with ANSYS and member of the ANSYS board of directors.
While the notion of offering combinations of mechanical and electronics software tools is not new (reference Applicon in the early 80’s and Mentor Graphics PCB Division in the early 90’s), the combination of ANSYS and ANSOFT may arguably give ANSYS one of the most comprehensive, independent engineering simulation software suites in today’s industry.
Look for other deals similar to this one to occur between MCAE/MCAD and EDA vendors going forward.
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