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Synopsys signs $35 billion deal to buy Ansys

Synopsys signs $35 billion deal to buy Ansys

Synopsys, a major Silicon Valley supplier to the chip industry, said Tuesday it has agreed to pay $35 billion for Ansys, a Pennsylvania company that simulates and models product designs for electronics makers, carmakers, defense contractors and others. Manufactures software used to perform analysis. ,

The deal, which was made for a combination of cash and stock, is as follows 14 billion dollar deal This month Hewlett Packard Enterprise united to buy Juniper Networks, a large computer maker with a specialist in networking gear. It was the latest sign of changing times in the technology sector, which is experiencing slowing sales of many types of hardware and a frenzy over artificial intelligence.

AI has fueled huge spending in data centers and prompted many giant Internet companies to start designing their own chips. Some carmakers, who have become a major new source of chip demand amid pressure to electrify more vehicles and add driver-assistance features, are also designing their own chips.

Synopsys is a leader in software that simulates and validates chip designs, and is gradually adding products to help design more complete electronic systems. It has worked with Ansys since 2017 to win more customers for such tasks.

Synopsys Chief Executive Officer Sasin Ghazi said that the desire to purchase Ansys was driven by the need to move even faster to deliver software that can simulate the electrical and physical interactions of multiple components in a system.

“The worlds of semiconductor design and physical simulation and analysis must come together,” he said in a conference call with analysts.

Mr. Ghazi took over his position earlier this year from Art de Geus, who co-founded Synopsis in 1986 and remains executive chairman.

His company's closest competitor for decades has been Cadence Design Systems, another Silicon Valley company. The Wall Street Journal previously reported talks between Synopsys and Ansys and said that Cadence's interest in Ansys had helped prepare that company for the acquisition.

A Cadence spokesperson declined to comment.

Ansys was formed in 1970 by John Swanson, a mechanical engineer who developed software for Westinghouse to help analyze the stresses on nuclear reactors in the 1960s.

The company added other products over the years and became a major player in engineering software. Ajay Gopal, its chief executive since 2017, was previously an operating partner at Silver Lake, a private equity firm.

Synopsys said the implied value of the payment to Ansys shareholders was $390.19 per share, based on Synopsys' share price on Dec. 21, the day before the Journal reported the deal talks. Synopsis said this price represents a 35 percent premium to the average price of Ansys shares in the 60 days to that date.

Some Synopsys shareholders opposed the deal, analysts said, partly because Ansys had recently reported a slower revenue growth rate than Synopsys. But Synopsis predicted the combination would accelerate revenue growth and begin contributing to sharply higher earnings.

The companies estimated the deal would be completed in the first half of 2025.

https://static01.nyt.com/images/2024/01/16/multimedia/16synopsys-Geus-wgfj/16synopsys-Geus-wgfj-facebookJumbo.jpg

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