Engineering Software Firm Ansys Said to Weigh Sale
(Bloomberg) -- Ansys Inc., an engineering software provider, is weighing options, including a sale, after getting takeover interest, according to people familiar with the matter. The stock rose as much as 20%.
Most Read from Bloomberg
Harvard’s President Quits After Plagiarism, Antisemitism Furor
Saving the Panama Canal Will Take Years and Cost Billions, If It’s Even Possible
The Canonsburg, Pennsylvania-based company is working with advisers, said the people, who asked to not be identified discussing private information. No final decision has been made and Ansys could opt to remain independent, the people added.
“M&A rumors are not uncommon in our industry, and it’s our longstanding policy not to comment on them,” a spokesperson for Ansys said in an emailed statement.
Ansys makes simulation software used by engineers to help predict how products from rockets to airplanes will work in the real world. Engineers use its structural analysis software before a project to cut manufacturing costs, reduce risk and bring products to market faster, according to its website. The company, founded in 1970, has long been seen as a logical target for bigger players. Its software is used by companies in the aerospace, automotive and industrial industries.
Read more: Ansys Software Helps Design Djokovic’s Rackets to Baby Bottles
Ansys rose 16% to $350.53 at 9:32 a.m. in New York trading Friday, giving the company a market value of $31 billion. The stock has returned an average of 18% annually since the company went public in 1996, double the return of the S&P 500.
Ansys on Dec. 4 said Chief Financial Officer Nicole Anasenes would depart in the second quarter, surprising analysts and sending the stock lower.
(Updates trading in first and fifth paragraphs)
Most Read from Bloomberg Businessweek
©2023 Bloomberg L.P.
