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Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Repair Windows errors before they cause bigger problemsFix Now →ANSYS agreed to acquire Ansoft for approximately $832 million on March 31, 2008, offering Ansoft shareholders a combination of cash and ANSYS stock. The deal closed on July 31, 2008, making Ansoft a wholly owned ANSYS subsidiary and ending its NASDAQ listing.
What ANSYS agreed to pay for Ansoft
The companies announced a definitive merger agreement on March 31, 2008, valuing the transaction at approximately $832 million. Under the announced terms, each Ansoft share was to be exchanged for $16.25 in cash and 0.431882 shares of ANSYS common stock. The $832 million was an approximate deal value at signing, based on those exchange terms; it is not the same measure as the cash and shares ANSYS reported when the transaction closed. ANSYS’s March 31 announcement described the consideration as a mix of cash and stock.
Why ANSYS wanted Ansoft
Ansoft brought electronic-design-automation (EDA) software to ANSYS’s existing mechanical and fluids simulation capabilities. ANSYS presented the acquisition as a way to broaden its engineering simulation portfolio, connecting mechanical, fluids, electrical, and multiphysics analysis in a wider offering. The announcement reported combined trailing-12-month revenue of $485 million for ANSYS and Ansoft; that was the companies’ stated combined figure at the time, not a later or current revenue measure. The announcement set out the strategic rationale and revenue figure.
Planned integration with ANSYS Workbench
In a customer letter, ANSYS said it would explore integrating Ansoft technology into the ANSYS Workbench platform after closing and continue research and development investment across the portfolio. The statement described an exploration of integration opportunities, not a guarantee that every Ansoft product would be absorbed into Workbench. ANSYS’s customer letter described that plan.
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Key dates: announcement, approval and closing
| Date | Event |
|---|---|
| March 31, 2008 | ANSYS and Ansoft announced the definitive merger agreement and approximate $832 million deal value. |
| June 20, 2008 | The amended Form S-4 registration statement became effective after SEC review; ANSYS announced the clearance on June 23. |
| July 23, 2008 | Ansoft stockholders approved the merger. |
| July 31, 2008 | The transaction was completed, and this was Ansoft’s last day of NASDAQ trading. |
The approval and completion dates were reported in the companies’ transaction announcements. ANSYS’s July 31 closing release reported completion and the last trading day.
What happened to Ansoft shareholders and its stock
After the merger closed, Ansoft became a wholly owned ANSYS subsidiary, and Ansoft common stock ceased trading on NASDAQ. The consideration terms were $16.25 in cash plus 0.431882 ANSYS shares for each Ansoft share under the agreement; the listing outcome followed from the completed transaction. The closing announcement confirmed completion and the end of Ansoft trading.
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How the closing figures compare with the announced value
At completion on July 31, ANSYS reported issuing approximately 12.2 million shares, including shares associated with assumed options, and paying approximately $387 million in cash, plus expenses. These closing figures describe the reported cash and stock issued at completion; they should not be read as a revised $832 million purchase price on the same basis. The approximately $832 million figure was the announced value at signing, while the closing release separately reported the cash and share amounts. ANSYS’s completion release provides the closing amounts.
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