Lincoln International's TMT group advises a premier provider of engineering simulation software
NEW YORK, Sept. 12, 2019 /PRNewswire/ -- Lincoln International, a global mid-market investment banking advisory firm, is pleased to announce that Livermore Software Technology Corporation (LSTC) has entered into a definitive agreement to be acquired by ANSYS, Inc. (ANSYS) (ANSS).
The purchase price for the transaction is $775 million, of which 60% of the consideration will be paid in cash and 40% will be paid through the issuance of ANSYS common stock to the current owners of LSTC. The transaction is expected to close in the fourth quarter of 2019, subject to customary closing conditions and regulatory clearance.
Founded in 1987 and headquartered in Livermore, CA, LSTC is the premier provider of explicit dynamics and other advanced finite element analysis technology. LSTC's widely adopted solution, LS-DYNA, a highly scalable multiphysics solver, accurately predicts and simulates complex real-world problems for the automotive, aerospace, civil engineering, defense, manufacturing and biomedical industries, among others. Once closed, the acquisition will enable ANSYS to significantly advance the existing integration of LS-DYNA into the ANSYS Workbench environment, providing ANSYS customers seamless access to an even wider range of advanced simulation technology. The combined company's strengths in simulation for structures, fluids, electromagnetics, optics, safety and machine learning will deliver a powerful solution for autonomous and electric vehicles to global automotive manufacturers and their suppliers.
John O. Hallquist, founder and CEO of LSTC, commented, "It was a pleasure to work with the Lincoln team on this historic transaction for LSTC. Lincoln's extensive domain knowledge in the engineering software space, as well as deep industry relationships and process expertise, were invaluable in this transaction."
Scott Twibell, Managing Director and Co-Head of Lincoln International's Technology, Media & Telecommunications Group, added, "We have enormous respect for what LSTC and its' talented employees have built, and we truly enjoyed working with the LSTC team on this successful transaction. We offer our congratulations to both the Company and ANSYS as the combination will further provide world-class advanced simulation solutions to customers globally."
Lincoln International acted as the exclusive financial advisor for LSTC, working closely with the Company's management team and shareholders throughout the sale process. This included providing advisory expertise and managing the marketing, negotiation and due diligence phases of the transaction.
About Lincoln International
We are trusted investment banking advisors to business owners and senior executives of leading private equity firms and public and privately held companies around the world. Our advisory services include mergers and acquisitions and capital markets advisory for the mid-market. We also provide valuations and fairness opinions and joint ventures advisory services. As one tightly integrated team of more than 500 professionals across 16 countries, we offer an unobstructed perspective, backed by superb execution and a deep commitment to client success. With extensive industry knowledge and relationships, timely market intelligence and strategic insights, we forge deep, productive client relationships that endure for decades. Connect with us to learn more at www.lincolninternational.com.
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