Engineering simulation software maker Ansys said Monday that it would acquire Ansoft for about $832 million in cash and stock to broaden its simulation capabilities.
Ansys expects the deal, which the boards of both companies have unanimously approved, to modestly boost its earnings in the first full year of combined operations.
The deals calls for the exchange of each Ansoft share for $16.25 in cash and 0.431882 common shares of Ansys. That implies a purchase price of $32.50 per share, the companies said in a statement.
Shares of Ansoft closed at $23.42 in Friday Nasdaq trade.
The deal is expected to close in the second quarter, subject to regulatory and other approvals.