Summary by Moomoo AI
Synopsys, Inc. (Synopsys) and Ansys have entered into a definitive agreement for Synopsys to acquire Ansys, with the transaction valued at approximately $35 billion. The acquisition will combine Synopsys' electronic design automation (EDA) solutions with Ansys' simulation and analysis portfolio, creating a leader in silicon to systems design solutions. The deal is expected to close in the first half of 2025, subject to Ansys shareholder approval, regulatory approvals, and other customary closing conditions. Ansys shareholders will receive $197.00 in cash and 0.3450 shares of Synopsys common stock for each Ansys share. The acquisition is anticipated to expand Synopsys' total addressable market to approximately $28 billion, with a growth rate of about 11% CAGR. It is also expected to be accretive to Synopsys' non-GAAP EPS within the second full year post-closing and substantially accretive thereafter. The combined company will aim to deliver cost and revenue synergies, with approximately $400 million of run-rate cost synergies by year three post-closing and approximately $400 million of run-rate revenue synergies by year four post-closing.