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ANSYS agreed to acquire Ansoft for approximately $832 million on March 31, 2008, and completed the transaction on July 31, 2008. The deal added Ansoft’s electronic-design-automation software to ANSYS’s mechanical and fluids simulation portfolio, broadening its stated aim to connect electrical, mechanical, fluids and multiphysics analysis.
What did ANSYS pay for Ansoft?
When the definitive merger agreement was announced on March 31, 2008, ANSYS put the approximate deal value at $832 million. The announced consideration for each Ansoft share was $16.25 in cash plus 0.431882 shares of ANSYS common stock. The headline valuation was an estimate based on those exchange terms at signing, not the final cash amount reported at closing. ANSYS’s announcement described the transaction as a mix of cash and stock.
Why did ANSYS acquire Ansoft?
The acquisition paired ANSYS’s mechanical and fluids simulation capabilities with Ansoft’s electronic-design-automation (EDA) software. ANSYS presented the combination as a way to broaden its engineering simulation offering across electrical, mechanical, fluids and multiphysics analysis. At announcement, the companies reported combined trailing twelve-month revenue of $485 million. The announcement identifies that figure as the combined companies’ revenue scale at the time.
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In a letter to customers, ANSYS said it would continue research and development investment across its portfolio and explore integrating Ansoft technology into the ANSYS Workbench platform. The letter described an intention to explore those opportunities after closing, not a guarantee that every Ansoft product would be integrated. The customer letter said: “Post-close, we will quickly explore opportunities for integrating into the ANSYS Workbench platform.”
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When did the Ansoft acquisition close?
Ansoft stockholders approved the merger on July 23, 2008, and ANSYS completed the acquisition on July 31, 2008. An amended Form S-4 became effective on June 20; ANSYS announced that clearance on June 23. ANSYS’s completion release confirms the closing date.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What happened to Ansoft shareholders and its NASDAQ listing?
Under the announced merger terms, Ansoft was to become a wholly owned subsidiary of ANSYS. Its common stock ceased trading on NASDAQ after the July 31 closing; July 31 was Ansoft’s last trading day. At completion, ANSYS reported issuing approximately 12.2 million shares, including shares associated with assumed options, and paying approximately $387 million in cash plus expenses. These are closing figures, distinct from the approximately $832 million announced deal value. The closing release reports the completion economics.
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