16 Feb 2006
ANSYS Signs Definitive Agreement to Acquire Fluent; Broadens Capabilities as a Global Innovator of Simulation Software
SOUTHPOINTE, Pa., Feb 16, 2006 - ANSYS (Nasdaq: ANSS), a global innovator of simulation software and technologies designed to optimize product development processes, today announced it has signed a definitive agreement to acquire Fluent, Inc., a global provider of computer-aided engineering (CAE) simulation software.
Under the terms of the merger agreement, ANSYS will issue 6,000,000 shares of its common stock and pay approximately $300 million in net cash to acquire Fluent, subject to certain adjustments at closing. The transaction is valued at approximately $565 million based on the $44.11 per share closing price of ANSYS common stock on February 15, 2006. ANSYS will use a combination of existing cash and approximately $200 million from committed bank financing to fund the transaction.
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