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Synopsys seeks EU antitrust approval for $35 bln Ansys buy
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Synopsys seeks EU antitrust approval for $35 bln Ansys buy
Nov 11, 2024 9:01 AM

BRUSSELS, Nov 11 (Reuters) - Synopsys ( SNPS ) on Monday

sought European Union antitrust approval for its $35 billion

cash-and-stock acquisition of engineering software maker Ansys ( ANSS )

, the chip design software company said.

Synopsys ( SNPS ) announced the deal in January, the biggest in the

technology sector since chipmaker Broadcom's ( AVGO ) $69

billion buy of software maker VMware last November.

"We look forward to working constructively with the European

Commission in its standard merger review process," the company

said in a statement.

"Synopsys ( SNPS ) remains confident in a positive resolution of the

ongoing regulatory review processes, and we continue to expect

the transaction to close in the first half of 2025."

Synopsys ( SNPS ) makes tools to design the chips themselves, a

complement to offerings from Anysys, which makes software used

in creating products from airplanes to tennis rackets of players

like Novak Djokovic.

Analysts said the deal will create a massive new player in

the semiconductor electronic design automation sector which is

already highly consolidated between Synopsys ( SNPS ) and design software

firm Cadence Design Systems ( CDNS ).

The EU competition enforcer, which is expected to set a

mid-December deadline for its preliminary review, did not

immediately respond to a request for comment.

It can either clear the deal with or without remedies after

its initial assessment or it can open a four-month investigation

if it has serious concerns.

Sources said the Commission will likely launch a full-scale

investigation after its preliminary scrutiny.

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