ANSYS announced today that it has acquired SpaceClaim Corporation, a provider of fast and intuitive 3-D modeling software for engineers, for a purchase price of $85 million in cash, plus retention and an adjustment for working capital. The transaction was closed on April 30, 2014. On a non-GAAP basis, the transaction is expected to be neutral to slightly accretive to ANSYS' non-GAAP earnings per share in 2014, and accretive in 2015 and beyond.
Concord, Massachusetts-based SpaceClaim offers the first powerful and easy-to-use 3-D modeling tool that can be utilized by any engineer during the product development process. This process, called "direct modeling," differs dramatically from traditional CAD software, which is used by a relatively small percentage of engineers – typically late in the development process, to document the detailed design. SpaceClaim and ANSYS have partnered in the past to offer customers ANSYS®SpaceClaim Direct Modeler.
ANSYS' longtime vision is "Simulation Driven Product Development"™, in which organizations can derive tremendous value by harnessing computer simulation early in the design cycle to predict how a product will perform in the real world. With the addition of SpaceClaim, ANSYS will provide customers with a powerful and intuitive 3-D direct modeling solution to author new concepts and then leverage the power of simulation to rapidly iterate on these designs to drive innovation. The broad appeal of the SpaceClaim technology can help ANSYS deliver simulation tools to any engineer in any industry – at the earliest stages of the design cycle. ANSYS has always been an open platform and SpaceClaim's offerings are also CAD-neutral, allowing users to modify geometries regardless of the system in which they were created.
"This transaction is consistent with our strategic vision and M&A strategy, and accelerates our technological product roadmap to enhance our customer offering and drive growth," said Jim Cashman, president and CEO of ANSYS. "SpaceClaim is an exciting addition to our portfolio, as it addresses unmet 3-D modeling needs in the conceptual modeling, manufacturing and 3-D printing spaces, which represents an audience of 5 million users. In addition to driving innovation, the addition of SpaceClaim helps ANSYS accelerate the growth of the simulation market by broadening our user base from analysts and expert users to the millions of design and systems engineers in the industry. We welcome the SpaceClaim team to ANSYS."
"Leading companies know they need to modernize their engineering software and platforms if they want to develop truly innovative products," said Daniel Dean, senior vice president of research and development at SpaceClaim. "SpaceClaim's 3-D tools – combined with ANSYS' proven simulation software – are ideally suited to the rapid pace of today's business, driving a shorter product development process from concept to prototype."
