Synopsys,
the largest provider of electronic design automation software, agreed to buy
Ansys
for $35 billion in cash and stock in the biggest technology deal of 2024 so far.
Synopsys is an artificial intelligence stock that hasn’t received as much attention as its customers such as
Nvidia,
Advanced Micro Devices,
or
Intel.
Ansys provides simulation software that helps engineers predict how their products will work.
“Bringing together Synopsys’s industry-leading EDA solutions with Ansys’s world-class simulation and analysis capabilities will enable us to deliver a holistic, powerful and seamlessly integrated silicon-to-systems approach to innovation to help maximize the capabilities of technology R&D teams,” said Sassine Ghazi, chief executive of Synopsys, in a statement.
Ansys shareholders will receive $197 in cash and 0.3450 a share of Synopsys for each share they own, the companies said. That represents a 29% premium to Ansys’s stock price on Dec. 21, before the deal was first mooted.
Ansys was down 4.1% to $331.65. It has risen 31% over the past 12 months. Synopsys was rising 3.4%—it has risen more than 50% over the past 12 months.
The deal is expected to close in the first half of 2025, subject to shareholder and regulatory approvals.
Write to Brian Swint at [email protected]
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