CIMdata PLM Industry Summary Online Archive
2 May 2008
Acquisitions
ANSYS and Ansoft Receive Early Termination of Hart-Scott-Rodino Act Waiting Period for Proposed Merger
ANSYS, Inc. announced that the U.S. Department of Justice and Federal Trade Commission have granted early termination of the Hart-Scott-Rodino (HSR) waiting period for ANSYS' proposed acquisition of Ansoft Corporation. ANSYS currently expects to close the acquisition in the second quarter of 2008.
As previously announced, ANSYS and Ansoft have entered into a definitive merger agreement in which ANSYS will acquire Ansoft for a purchase price of approximately $832 million in a mix of cash and ANSYS common stock. Consummation of the transaction remains subject to customary closing conditions, including the approval of the Ansoft stockholders.
"We are very pleased that we have received notice of early termination and look forward to closing the transaction and implementing our plan," said Jim Cashman, president and CEO of ANSYS, Inc. "The combination of ANSYS and Ansoft will create substantial benefits for our global customers, employees, partners and stockholders, through continued investment and development of innovative products and services, and our commitment to world-class execution."
"The ANSYS portfolio of engineering simulation technologies, when combined with Ansoft, will enhance our ability to deliver integration, functionality and interoperability to a broad set of customers and industries," said Nicholas Csendes, president and chief executive officer of Ansoft.
Important Additional Information to be Filed with the SEC
In connection with the merger, ANSYS filed with the SEC a registration statement on Form S-4 (Registration No. 333-150435), which includes a preliminary prospectus/proxy statement of ANSYS and Ansoft and other relevant materials in connection with the proposed transactions. This material is not a substitute for the prospectus/proxy statement regarding the proposed transactions. Investors and security holders of ANSYS and Ansoft are urged to read the preliminary prospectus/proxy statement and the other relevant material and the final prospectus/proxy statement and the other relevant material when they become available because they contain important information about ANSYS, Ansoft and the proposed transaction. The prospectus/proxy statement and other relevant materials, and any and all documents filed by ANSYS or Ansoft with the SEC, may be obtained free of charge at the SEC's web site at http://www.sec.gov. In addition, investors and security holders may obtain free copies of the documents filed with the SEC by ANSYS by directing a written request to ANSYS, Inc., Southpointe, 275 Technology Drive, Canonsburg, Pennsylvania 15317, Attention: Investor Relations. Investors and security holders may obtain free copies of the documents filed with the SEC by Ansoft by directing a written request to Ansoft Corporation, 225 West Station Square Drive, Suite 200, Pittsburgh, PA 15219, Attention: Investor Relations. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROSPECTUS/PROXY STATEMENT AND THE OTHER RELEVANT MATERIALS BEFORE MAKING ANY VOTING OR INVESTMENT DECISION WITH RESPECT TO THE PROPOSED TRANSACTIONS
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