- Pre-Market Indications

Monday, March 31, 2008

Ansys to acquire Ansoft for $832 million- cash and stock

NEW YORK, March 31 (Reuters) - Engineering simulation software maker Ansys Inc (ANSS.O: Quote, Profile, Research) said on Monday that it would acquire Ansoft Corp (ANST.O: Quote, Profile, Research) for about $832 million in cash and stock to broaden its simulation capabilities.

Ansys expects the deal, which the boards of both companies have unanimously approved, to modestly boost its earnings in the first full year of combined operations.

The deals calls for the exchange of each Ansoft share for $16.25 in cash and 0.431882 common shares of Ansys. That implies a purchase price of $32.50 per share, the companies said in a statement.

Shares of Ansoft closed at $23.42 in Friday Nasdaq trade.

UPDATE 1-Ansys to acquire Ansoft for $832 million | Markets | Markets News | Reuters

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