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Synopsys to acquire Ansys in $35 bn mega-deal
Industry News- Jan 18,24
The proposed acquisition, if completed, would mark the largest deal in the technology sector since Broadcom acquired VMware for $69 billion in November of the previous year.
Synopsys, a leading chip design software company, announced its plans to acquire Ansys in a cash-and-stock deal valued at $35 billion. Ansys is renowned for its software utilised in the creation of various products, ranging from airplanes to tennis rackets used by players like Novak Djokovic.
The proposed acquisition, if completed, would mark the largest deal in the technology sector since Broadcom acquired VMware for $69 billion in November of the previous year. This move may signal a trend of substantial deals in the technology industry, driven by improved economic sentiment and a willingness among chief executives to pursue significant acquisitions despite some recent challenges from antitrust regulators.
The deal, reflecting a per-share value of $390.19, represents a premium of approximately 29% over Ansys' closing price on December 21, 2023. Ansys had been exploring a sale since late last year, following acquisition interest from design software firm Cadence Design Systems.
Notably, this acquisition comes merely two weeks after Aart de Geus, co-founder and Executive Chairman of Synopsys, handed over the role of Chief Executive Officer to Sassine Ghazi. The decision to pursue such a transformative acquisition during a leadership transition underscores the commercial appeal of Ansys' simulation software.
Ansys specialises in simulation software utilised by engineers, designers, and researchers across diverse industries such as aerospace, defence, automotive, and energy. Its products compete with those offered by Autodesk and Dassault Systemes. Synopsys, servicing major chipmakers like Intel, AMD, and Nvidia, provides software for chip design across various sectors.
Both companies have witnessed significant increases in their share prices over the past year, driven by the booming demand for artificial intelligence. Their collaboration since 2017, aimed at providing solutions for chip designers to analyse chips for quality standards, has contributed to the efficiency of the overall design process.
Source: Money Control
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