Jul 27, 2011

ANSYS & Apache Receive Early Termination of Hart-Scott-Rodino Waiting Period for Proposed Merger

PITTSBURGH - ANSYS, Inc today announced that the U.S. Department of Justice and Federal Trade Commission have issued early termination of the Hart-Scott-Rodino (HSR) waiting period for ANSYS' proposed acquisition of Apache Design Solutions, Inc. ANSYS currently expects to close the acquisition in the third quarter of 2011.

As previously announced, ANSYS and Apache have entered into a definitive merger agreement in which ANSYS will acquire Apache for a purchase price of approximately $310 million in cash. Consummation of the transaction remains subject to customary closing conditions.

Apache Design Solutions, Inc., is the leading provider of innovative power analysis and optimization software solutions that enable the design of power-efficient, high-performance, noise-immune integrated circuits, or ICs, and electronic systems. Its solutions consist of a suite of software tools and methodologies that enable design engineers to reduce power consumption, ensure reliable delivery of power to ICs and electronic system components, and mitigate power-induced signal interference, or noise. Headquartered in San Jose, California, with locations throughout the world, Apache and its subsidiaries employ approximately 275 people.