Simulation software developer Ansys is to acquire the electronic design automation house Ansoft for approximately $832m in a mix of cash and ANSYS common stock.
The transaction, currently anticipated to close in the second calendar quarter of 2008, is subject to customary closing conditions, regulatory approvals and approval by the Ansoft stockholders.
Ansoft is a developer of high-performance EDA software. Engineers use Ansoft products to simulate high-performance electronics designs found in mobile communication and internet devices, broadband networking components and systems, integrated circuits, printed circuit boards and electromechanical systems.
The acquisition of Ansoft is Ansys' first foray into the broader Electronic Design Automation (EDA) software industry and will enhance the breadth of its portfolio of engineering simulation solutions.
With over 40 direct sales offices and 21 development centers on three continents, the combined company will employ approximately 1,700 people.
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