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Ansys (ANSS) Reportedly to be Acquired by Synopsys for $35B
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Ansys (ANSS - Free Report) is reportedly in advanced talks to be acquired by Synopsys (SNPS) for about $35 billion, per a report from Bloomberg. Citing sources familiar with the matter, Bloomberg added that the deal could be announced in early 2024 if talks do not fall apart.
Initially, Ansys had received a takeover bid from Synopsys in December 2023. Synopsys is reportedly paying about $400 a share for Ansys, added the report. There is no official comment on the matter from either of the companies.
The deal will give rise to a giant in the EDA software space as ANSS and SNPS have a market capitalization of $30 billion and $73.6 billion, respectively. Per a report from Grand View Research, the global electronic design automation software market size was valued at $11.10 billion in 2022 and is projected to witness a CAGR of 9.1% from 2023 to 2030.
Ansys develops and globally markets engineering simulation software and services widely used by engineers, designers, researchers and students across a broad spectrum of industries and academia.
Ansys is gaining from strong demand across most of the sectors. In the automotive sector, higher demand for electric vehicles and advanced driver assistance systems or ADAS solutions is driving growth. It is likely to benefit from rapid growth in the high-tech industry, led by ongoing development in artificial intelligence and machine learning.
The company’s software solutions are used by most of the well-known manufacturing companies. Virtual prototyping instead of physical prototyping helps these companies save a considerable amount of money. The company’s robust product portfolio and cross-domain offering will continue to drive the customer base going ahead.
ANSS currently carries a Zacks Rank #4 (Sell). Shares of Ansys have gained 38.7% in the past year compared with the sub-industry’s growth of 53.5%.
The Zacks Consensus Estimate for Blackbaud’s 2023 earnings per share (EPS) has inched up 1.8% in the past 60 days to $3.86. BLKB’s long-term earnings growth rate is 23.4%.
Blackbaud’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 10.6%. Shares of BLKB have gained 52% in the past year.
The Zacks Consensus Estimate for Watts Water Technologies 2023 EPS has improved 3.9% in the past 60 days to $8.08.
WTS’ earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 11.8%. Shares of WTS have soared 41% in the past year.
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Ansys (ANSS) Reportedly to be Acquired by Synopsys for $35B
Ansys (ANSS - Free Report) is reportedly in advanced talks to be acquired by Synopsys (SNPS) for about $35 billion, per a report from Bloomberg. Citing sources familiar with the matter, Bloomberg added that the deal could be announced in early 2024 if talks do not fall apart.
Initially, Ansys had received a takeover bid from Synopsys in December 2023. Synopsys is reportedly paying about $400 a share for Ansys, added the report. There is no official comment on the matter from either of the companies.
The deal will give rise to a giant in the EDA software space as ANSS and SNPS have a market capitalization of $30 billion and $73.6 billion, respectively. Per a report from Grand View Research, the global electronic design automation software market size was valued at $11.10 billion in 2022 and is projected to witness a CAGR of 9.1% from 2023 to 2030.
Ansys develops and globally markets engineering simulation software and services widely used by engineers, designers, researchers and students across a broad spectrum of industries and academia.
Ansys is gaining from strong demand across most of the sectors. In the automotive sector, higher demand for electric vehicles and advanced driver assistance systems or ADAS solutions is driving growth. It is likely to benefit from rapid growth in the high-tech industry, led by ongoing development in artificial intelligence and machine learning.
The company’s software solutions are used by most of the well-known manufacturing companies. Virtual prototyping instead of physical prototyping helps these companies save a considerable amount of money. The company’s robust product portfolio and cross-domain offering will continue to drive the customer base going ahead.
ANSS currently carries a Zacks Rank #4 (Sell). Shares of Ansys have gained 38.7% in the past year compared with the sub-industry’s growth of 53.5%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks worth considering in the broader technology space are Blackbaud (BLKB - Free Report) and Watts Water Technologies (WTS - Free Report) . Each stock presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Blackbaud’s 2023 earnings per share (EPS) has inched up 1.8% in the past 60 days to $3.86. BLKB’s long-term earnings growth rate is 23.4%.
Blackbaud’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 10.6%. Shares of BLKB have gained 52% in the past year.
The Zacks Consensus Estimate for Watts Water Technologies 2023 EPS has improved 3.9% in the past 60 days to $8.08.
WTS’ earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 11.8%. Shares of WTS have soared 41% in the past year.