Ansys acquires Ansoft in cash and stock deal valued at $32.50 per share

By Lisa Kerner

Charlotte, N.C., July 31 - Ansys, Inc. said it completed the acquisition of Ansoft Corp. in a series of mergers for approximately 12.2 million shares of Ansys common stock and roughly $387 million in cash.

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

Under the Pittsburgh-based companies' agreement, Ansoft stockholders would 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.

Ansoft stockholders voted in favor of the merger at a special meeting on July 23.

Dr. Zoltan Cendes, Ansoft founder and chief technology officer, will become a CTO with Ansys as well as a member of the company's board of directors.

To fund the transaction, Ansys said it used a combination of existing cash and proceeds from approximately $355 million of committed bank financing.

Ansys expects the acquisition to be modestly accretive to earnings the first 12 months, excluding acquisition-related costs, a company news release stated.

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

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