ANSYS Acquires Apache Design Solutions For $310 Million In Cash

ANSYS, which offers simulation software and technologies designed to optimize product development processes, has agreed to acquire Apache Design Solutions, a simulation software provider for low power solutions in the electronics industry. The purchase price is approximately $310 million in cash. The price includes an estimated $29 million in cash on Apache's balance sheet. ANSYS intends to fund the transaction with cash on-hand from the combined organization.The agreement also includes retention provisions and incentives for certain members of management and employees, earned over a three year period, including an additional $13 million of performance equity awards. ]]>