Synopsys To Acquire Ansys In $35 Billion Deal -- Update
January 16 2024 - 8:51AM
Dow Jones News
By Ben Glickman
Synopsys will acquire Ansys in a $35 billion cash-and-stock
deal, confirming a prior Wall Street Journal report.
Ansys shareholders will receive $197 in cash and 0.345 shares of
Synopsys stock per share of Ansys, the companies said Tuesday.
The companies said the deal had an implied consideration of
$390.19 a share for Ansys, representing a premium of about 35% on
Ansys's 60-day volume-weighted average price as of Dec. 21.
The deal gives Ansys an enterprise value of $35 billion based on
the Dec. 21 closing price of Synopsys stock.
Synopsys said it would fund the $19 billion in cash
consideration with cash on hand and debt financing.
Synopsys said the deal expands its total addressable market by
50% to $28 billion. The acquisition is expected to be accretive to
adjusted earnings per share in the second full year after the deal
closes.
Ansys makes engineering simulation software used in product
design. Sunnyvale, Calif.-based Synopsys makes software to design
and test chips.
The deal is expected to close in the first half of 2025.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
January 16, 2024 08:36 ET (13:36 GMT)
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