Britain's competition regulator announced on Wednesday that it has cleared chip design software maker Synopsys' $35 billion acquisition of Ansys. The Competition and Markets Authority (CMA) stated it would not refer the deal to an in-depth Phase 2 probe after accepting remedies offered by the firms. This decision addresses initial concerns about potential harm to competition in the UK market.
The CMA's approval follows a period of review where the regulator assessed the potential impact of the merger on competition within the engineering simulation and electronic design automation sectors. The acceptance of remedies indicates that the proposed solutions were deemed sufficient to mitigate any anti-competitive effects. This is a crucial step for the completion of the cash-and-stock transaction.
This regulatory clearance from the UK is a significant milestone for the acquisition, which was announced in January of the previous year. With this approval, one of the key international regulatory hurdles has been overcome, bringing the transaction closer to its anticipated closing in the first half of 2025.
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