EU antitrust regulators are set to approve U.S. chip design software company Synopsys' $35 billion acquisition of Ansys, according to sources with direct knowledge of the matter. This anticipated approval is based on Synopsys' pledge to sell two assets to address competition concerns raised by the European Commission. The news was reported on Monday, signaling a significant step forward for the merger.
The proposed divestitures, which include an Ansys unit and one of Synopsys' own assets, were offered to ensure that the combined entity would not harm competition in specific software markets. The European Commission had been reviewing the cash-and-stock deal, which aims to create a leader in silicon to systems design solutions. This development suggests that the remedies are deemed sufficient by the EU authorities.
Securing approval from the European Union is a critical regulatory milestone for the acquisition, which was announced in January of the previous year. The expected clearance removes a major international hurdle, bringing the transaction closer to its anticipated closing in the first half of 2025, subject to other remaining regulatory approvals.
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