Synopsys Acquires Ansys in $35 Billion Deal

The acquisition, funded by cash and a debt offering, is expected to increase the combined company's total addressable market to $28 billion.

Synopsys, a semiconductor design software firm, has announced a $35 billion cash-and-stock acquisition of Ansys, a simulation software company.
The deal, which represents a 35% premium over Ansys' 60-day average price, will be funded with $19 billion in cash and a $16 billion debt offering.
Ansys shareholders will receive $197 in cash and 0.345 shares of Synopsys common stock for each Ansys share they hold, resulting in an enterprise value of around $35 billion.
The combined company's total addressable market is expected to increase by 1.5 times to approximately $28 billion.
The deal is expected to close in the first half of 2025, pending regulatory and shareholder approval.