Ansys, Ansoft merger now expected to close in third quarter

By Lisa Kerner

Charlotte, N.C., June 4 - Ansys, Inc. expects to complete its acquisition of Ansoft Corp. in the third quarter of 2008 based on the Securities and Exchange Commission's continuing review of the registration statement on form S-4.

According to an Ansys news release, the company had expected to close the acquisition in the second quarter of 2008.

Ansys agreed to acquire Ansoft in a cash and stock deal valued at approximately $832 million, it was previously reported.

Under the Pittsburgh-based companies' agreement, Ansoft stockholders will receive $16.25 cash and 0.431882 of a share of Ansys common stock per Ansoft share, or a total consideration of some $32.50 per Ansoft share.

Ansys will issue 11.1 million shares and pay an estimated $416 million in cash in the transaction, a prior news release stated.

Ansoft develops electronic design automation software, and Ansys markets engineering simulation software and technologies.

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