Ansoft investors approve acquisition by Ansys; merger set to close July 31

By Susanna Moon

Chicago, July 24 - Ansoft Corp. said its stockholders voted in favor of the company's proposed merger with Ansys, Inc. at a special meeting on Wednesday.

As previously reported, Ansys agreed to acquire Ansoft for $832 million in cash and stock.

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 about $32.50 per Ansoft share.

The deal is expected to close on July 31.

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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