To further broaden its software offerings, software simulation developer ANSYS, Inc. has signed a definitive agreement to acquire EDA software giant Ansoft Corporation for approximately $832 million in a mix of cash and ANSYS common stock. Under the terms of the definitive agreement, which was unanimously approved by the boards of directors of both companies, Ansoft stockholders will receive $16.25 in cash and 0.431882 shares of ANSYS common stock for each outstanding Ansoft share.

After the closing, Ansoft will become a wholly-owned subsidiary of ANSYS. And Ansoft founder, chairman of the board and chief technology officer Zoltan J. Cendes will join ANSYS' board of directors.

This acquisition is ANSYS' first foray into the broader EDA software industry and will enhance the breadth, functionality, usability and interoperability of the combined ANSYS portfolio of engineering simulation solutions. The complementary combination of Ansoft's and ANSYS' software products and services is expected to give ANSYS one of the most complete, independent engineering simulation software offerings in the industry, reaffirming and strengthening ANSYS' commitment to open interface and flexible simulation solutions that are primarily driven by customer demand, flexibility and choice, according to ANSYS.

"We are very excited about the state-of-the-art technologies that Ansoft adds to ANSYS' simulation capabilities," said James E. Cashman III, president and CEO of ANSYS. "Both companies have a strong commitment to their customers and employees, and share a passion for the development of innovative products and services and a history of world-class execution. This combination will further strengthen these values and will allow us to better serve our customers by accelerating the delivery of comprehensive, customer-driven engineering simulation solutions and by enabling us to provide high quality support throughout the world. We see this as an opportunity to add highly complementary physics that address the convergence of mechanical and electrical engineering product design and development."

""The combination of Ansoft's extensive portfolio of electromagnetics, circuit and systems simulation solutions with ANSYS' existing simulation capabilities creates a 'best of breed' company that will continue to lead the evolution and innovation of engineering simulation by enabling customers to improve their product development processes, eliminate physical prototypes, reduce time-to-market for new products and improve product innovation and performance," said Nicholas Csendes, president and CEO of Ansoft.

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