ANSYS Acquires Ansoft Corporation
30 Mar, 2008Purchase of electronic design automation technology developer expected to strengthen ANSYS' engineering simulation offerings.
ANSYS and Ansoft Corporation signed a definitive agreement whereby ANSYS will acquire Ansoft for a purchase price of approximately $832 million. The transaction is expected to close in the second calendar quarter of 2008.
The acquisition reportedly will broaden ANSYS' engineering simulation software offerings by adding engineering design automation technology to the company's current software portfolio.
"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. "This combination ... 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. We see this as an opportunity to add highly complementary physics that address the convergence of mechanical and electrical engineering product design and development.
"The simulation technologies that Ansoft adds complement and broaden the existing ANSYS portfolio of simulation solutions, enabling the combined company to deliver the integration, efficiency, functionality, and interoperability required by customers across a broad range of industries and applications," Cashman added. "With trailing 12-month revenues ending January 31, 2008, of $98 million, Ansoft brings a combination of new software revenue growth and strong operating margins."
In conjunction with the acquisition, Zoltan J. Cendes, founder and chief technology officer of Ansoft, will join ANSYS' Board of Directors after the closing of the transaction.
