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Business | July 01, 2011

Ansys to acquire Apache Design Solutions

Ansys will acquire Apache for a purchase price of approximately USD 310 million in cash, which includes an estimated USD 29 million in cash on Apache's balance sheet.

The agreement also includes retention provisions and incentives for key members of management and employees, earned over a three fiscal year period following closing, including an additional USD 13 million of performance equity awards. Ansys intends to fund the transaction with cash on-hand from the combined organization. The transaction, currently anticipated to close in the third calendar quarter of 2011, is subject to customary closing conditions and regulatory approvals. After the closing, Apache will become a wholly-owned subsidiary of Ansys. "We are very excited about the power-efficient design software that Apache adds to Ansys' simulation capabilities," said James E. Cashman III, President and CEOr of Ansys. "The addition of this technology will drive energy-efficient electronic product development in the 21st century. Both companies have a strong commitment to their customers and employees while sharing a passion for innovation and cutting edge technology. This combination will further strengthen and promote thought leadership allowing us to better serve our customers by accelerating the delivery of comprehensive, customer-driven engineering simulation solutions. We see this as an opportunity to strengthen the Ansys vision for solving chip, package and board design problems." "The combination of these two great companies with emerging 3DIC technologies will lead to considerable advances within electronics," said Dr. Andrew T. Yang, co-founder, CEO and Chairman of the Board for Apache. "The complementary nature of our electronic and thermal product offerings provides key technological strengths that enhance our ability to deliver comprehensive, innovative and world-class simulation technologies that customers demand."
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