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Software Companies Close On Mega Deal  Worth Over $35 Billion

Synopsys and Ansys are in exclusive talks and a deal could come as soon as next week!

Synopsys is in advanced talks to acquire Ansys for around $35 billion in a stock-and-cash deal that could be one of the first big transactions of the new year.

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The deal would be one of the first big deals of 2024. Synopsys shares were recently down 0.6%, while Ansys was up 0.6%. Shares of Cadence Design Systems, which had earlier approached Ansys, fell 0.5%.

The two companies are in exclusive negotiations, according to people familiar with the matter. A deal could come together as soon as the middle of next week, granted the talks don’t fall apart.

Synopsys is discussing paying around $400 per share for Ansys.

Shares of Ansys, which have run up since news of deal talks broke in late December, opened Friday at $344, giving the company a market value of about $30 billion.

Synopsys had a market value of nearly $75 billion at Friday’s open.

Cadence Design Systems, a rival company with a market value of almost $70 billion, initially approached Ansys with an unsolicited offer for the company, thereby putting it into play, the people said.

The Wall Street Journal reported last month that Synopsys was in talks to acquire Ansys and working toward striking a deal in early 2024.




Image: Software merge