2024-01-16 21:56:00
Ansys shareholders will receive $197 in cash and 0.345 of a Synopsis share for each share they own. The transaction reflects a price of about $390.19 for the Ansys share, based on the closing price of the share on December 21. Ansys imaging technology is used in the creation of a range of products, from airplanes to the tennis rackets of players such as Novak Djokovic
The Ansys takeover provides an early boost to the M&A market in 2024, after last year was its worst year in a decade. The deal will be the largest acquisition in the technology sector since American chip maker Broadcom bought software maker VMware last November in a $69 billion deal. This acquisition could herald more big deals on the way, a reflection of the rise in economic sentiment and the failed attempts by antitrust regulators to thwart deals and warn executives against making big acquisition bets.
Ansys began to examine the possibility of a sale at the end of last year after the design software company Cadence Design Systems was interested in its purchase. The deal comes just two weeks after Synopsis co-founder and executive chairman Art DeGause handed over the CEO reins to chief operating officer Sasin Ghazi.
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