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2025-01-07 05:56
Ansys (NASDAQ:ANSS) and Synopsys (NASDAQ:SNPS) on Monday announced that Ansys has entered into an agreement for the sale of its PowerArtist business to Keysight Technologies (KEYS).
The transaction, which is currently pending regulatory approvals, is expected to close in the first half of 2025.
Both the companies said the sale of PowerArtist was necessary to obtain regulatory approval for Synopsys' proposed acquisition of Ansys.
Terms of the agreement were not disclosed.
Synopsys, in January, said that it agreed to buy Ansys for about $35B in cash and stock. Under the terms of the deal, Ansys shareholders will receive $197 in cash and 0.3450 shares of Synopsys common stock.
However, the deal came under investigation for competition concerns.
According to a Reuters report, Synopsys' decision to sell its Optical Solutions business to Keysight and its sale of the PowerArtist unit, owned by Ansys, could help address the European Union's concerns, and help it to win approval from the market regulator for the acquisition.
Earlier in October, the U.K.'s antitrust agency also said a potential deal between the two companies could raise prices and lead to reduced competition.