SOUTHPOINTE, Pa., May 1 /PRNewswire-FirstCall/
-- ANSYS, Inc. (Nasdaq: ANSS), a global innovator of
simulation software and technologies designed to
optimize product development processes, and Fluent Inc.,
a global provider of computer-aided engineering (CAE)
simulation software, today announced that ANSYS has
completed its acquisition of Fluent in a series of
mergers for approximately 6,000,000 shares of ANSYS
common stock and approximately $299 million in net cash.
ANSYS expects the
acquisition to be immediately accretive to earnings,
excluding acquisition-related costs, amortization of
intangibles, the impact of deferred revenue purchase
accounting treatment and expensing of stock options. The
company used a combination of existing cash and proceeds
from approximately $200 million of committed bank
financing to fund the transaction.
Fluent Inc. is a global
supplier of CAE simulation software technologies and
services. Fluent products utilize computational fluid
dynamics (CFD) principles and techniques to enable
engineers and designers to simulate fluid flow, heat and
mass transfer, and related phenomena involving
turbulent, reacting, and multiphase flow. The company's
products are used by blue chip companies, small and
medium size enterprises, and academic institutions and
institutes around the world. Today, CFD simulation
technology is used in almost every industry sector and
manufactured product.
"With the acquisition of
Fluent, ANSYS has significantly broadened its offerings
in the simulation market. I expect ANSYS to be an
important partner to design engineers in industries,
from discrete manufacturing, oil and gas, chemicals,
food processing, as well as to environmental scientists
studying how pollution propagates and oceanographers
trying to predict the effects of global warming. Ships,
airplanes, cars, your PC, home, office building and the
environment -- all will work better, be more efficient,
pollute less or be better managed as a result of a
better understanding of the dynamics of the gases and
liquids in which, and with which, they operate,"
commented Daratech CEO Charles M. Foundyller.
Jim Cashman, ANSYS
President and CEO added, "Finalizing the acquisition of
Fluent is great news for us, our customers and partners.
We are very excited to be able to move forward today as
a unified company and begin executing our strategy for
the future."
"With the operations and
technology synergies that Fluent and ANSYS share, we are
confident that we can meet the needs of the CAE
community for simulation software and services in a
highly effective manner," said Dr. Ferit Boysan, Vice
President and General Manager, Fluids Business Unit.
The combination of ANSYS'
and Fluent's software products and services is expected
to give ANSYS one of the most comprehensive, independent
engineering simulation software offerings in the
industry, reaffirming and strengthening ANSYS'
commitment to open interface and flexible simulation
solutions that are primarily driven by customer demand
and choice. With over 40 direct sales offices and 17
development centers, on three continents, the combined
company will employ approximately 1,350 people.
The company expects to
provide updated financial guidance with respect to
Fluent and the financial outlook of the combined company
in the next couple of weeks.
About ANSYS, Inc.
ANSYS, Inc., founded in
1970, develops and globally markets engineering
simulation software and technologies widely used by
engineers and designers across a broad spectrum of
industries. The Company focuses on the development of
open and flexible solutions that enable users to analyze
designs directly on the desktop, providing a common
platform for fast, efficient and cost- conscious product
development, from design concept to final-stage testing
and validation. The Company and its global network of
channel partners provide sales, support and training for
customers. Headquartered in Canonsburg, Pennsylvania
U.S.A. with more than 40 strategic sales locations
throughout the world, ANSYS, Inc. and its subsidiaries
employ approximately 1,350 people and distribute ANSYS
products through a network of channel partners in over
40 countries. Visit http://www.ansys.com for more
information.
Certain statements
contained in the press release regarding matters that
are not historical facts are "forward-looking"
statements (as defined in the Private Securities
Litigation Reform Act of 1995), including, without
limitation, the statement regarding our expectation that
the acquisition of Fluent will be immediately accretive
to earnings, with certain exceptions, and our statement
that the combination of our software products and
services combined with Fluent's is expected to give us
one of the most comprehensive, independent engineering
simulation software offerings in the industry. All
forward-looking statements in this press release are
subject to risks and uncertainties. Actual results could
differ materially from those contained in the
forward-looking statements and are based on current
expectations that involve a number of risks and
uncertainties, including, but not limited to, the risk
that the business of ANSYS and Fluent may not be
integrated successfully or that such integration may
take longer or cost more to accomplish than expected,
that potential difficulties may arise in the
assimilation of operations, strategies, technologies and
products of Fluent, that key personnel of Fluent may not
stay with ANSYS, and that management's attention may be
diverted from other business concerns during the
integration process. Additional risks are detailed from
time to time in reports filed by ANSYS, Inc. with the
Securities and Exchange Commission, including ANSYS,
Inc.'s 2005 Annual Report and Form 10-K. We undertake no
obligation to publicly update or revise any
forward-looking statements, whether changes occur as a
result of new information or future events after the
date they were made.
ANSYS, ANSYS Workbench,
CFX, AUTODYN, FLUENT and any and all ANSYS, Inc. product
and service names are registered trademarks or
trademarks of ANSYS, Inc. or its subsidiaries located in
the United States or other countries. ICEM CFD is a
trademark licensed by ANSYS, Inc. All other trademarks
or registered trademarks are the property of their
respective owners.
SOURCE ANSYS, Inc.
CONTACT:
Lisa O'Connor
ANSYS, Inc.
724-514-1782
lisa.oconnor@ansys.com