Ansys acquires firm for $700 million
Ansys is making a significant expansion – at a significant price.
The global engineering simulation software company, based at Southpointe, announced Monday morning that it has signed a $700 million agreement to acquire Analytical Graphics Inc., which provides simulation, modeling and testing for the aerospace and defense industries.
Analatyical Graphics is based in Exton, Chester County.
Ansys said in a news release that the acquisition will enable it to expand its “portfolio to enable users to solve at the chip level all the way to an entire mission – like tracking an orbiting satellite and its periodic connection to ground stations.”
The company expects the deal to close during the fourth quarter of 2020.
Ajei Gopal, Ansys’s president and chief executive officer, said in a prepared statement that the “acquisition of AGI will help drive our strategy of making simulation pervasive from the smallest component now through a customer’s entire mission. It will also expand the use of simulation in the key aerospace sector, where the stakes can be at their highest levels.”
Ansys said in a news release that 67% of the transaction will be paid in cash and 33% through issuance of common stock.