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The primary record for this deal identifies ANSYS, Inc.—not ABB—as the company that agreed to acquire Ansoft Corporation. ANSYS announced the agreement on March 31, 2008, and reported that the acquisition was completed on July 31, 2008.
Who signed the agreement with Ansoft?
ANSYS announced a definitive agreement to acquire Ansoft on March 31, 2008. The SEC-filed announcement names ANSYS as the buyer; the reviewed records do not establish a role for ABB. The deal therefore concerns ANSYS and Ansoft, despite the original headline’s attribution.
Ansoft developed electronic design automation (EDA) software for electromagnetics, circuit, and system simulation. Its applications included mobile communications and internet devices, broadband networking, integrated circuits, printed circuit boards, and electromechanical systems. In the announcement, “electromechanical” refers to one application area within a broader engineering-software portfolio, not a consumer product.
ANSYS said the acquisition would add complementary physics to its simulation portfolio as mechanical and electrical product design increasingly converged. That was the companies’ stated strategic rationale in 2008, not an independent assessment of product performance or a statement about current software availability. ANSYS’s March 31, 2008 announcement and Ansoft’s transaction FAQ filed the same day describe the deal and the software business.
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What were the announced purchase terms?
Under the announced terms, Ansoft shareholders would receive $16.25 in cash and 0.431882 ANSYS shares for each Ansoft share. ANSYS estimated the transaction at approximately $832 million, using its 10-day trailing average share price as the reference. That was the announcement’s implied transaction value, not the cash amount later reported at closing.
The announcement also cited approximately $485 million in combined trailing 12-month revenue. This was a historical figure reported by the companies in 2008, not a current revenue measure. See the ANSYS announcement and Ansoft FAQ for the original terms and context.
When was the acquisition approved and completed?
- March 31, 2008: ANSYS announced the definitive acquisition agreement.
- July 23, 2008: Ansoft shareholders voted on the transaction at a special meeting. Ansoft reported the approval on July 24 and said closing was scheduled for July 31. Ansoft’s July 24 filing records the vote and planned closing.
- July 31, 2008: ANSYS announced that the acquisition had been completed. Its completion release described the consideration as approximately 12.2 million ANSYS shares and approximately $387 million in cash, plus expenses.
Why do the $832 million and $387 million figures differ?
They describe different things at different stages. The approximately $832 million figure was the proposed transaction value estimated on March 31 using ANSYS’s 10-day trailing average share price. The approximately $387 million figure was the cash component reported in ANSYS’s July 31 completion release; that release also reported approximately 12.2 million shares issued, plus expenses. The closing figures should not be substituted for the earlier implied value or treated as equivalent measurements.
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What the record establishes
- The reviewed primary records identify ANSYS, not ABB, as the company that agreed to acquire Ansoft.
- The agreement was announced March 31, 2008, and the acquisition was completed July 31, 2008.
- Ansoft’s business was engineering EDA and simulation software, including tools for electromechanical systems.
- The companies’ filings establish what they announced and reported at the time; they do not independently validate marketing claims or establish current product availability.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
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