SOUTHPOINTE, Pa., April 27 /PRNewswire-FirstCall/ -- ANSYS, Inc.
(Nasdaq: ANSS) and Fluent Inc. today announced that the waiting period under
the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, with
respect to ANSYS' pending acquisition of Fluent expired at 11:59 p.m. (Eastern
Time) on Wednesday, April 26, 2006. ANSYS expects to close the acquisition by
no later than May 1, 2006.
As previously announced, ANSYS and Fluent have entered into a definitive
merger agreement in which ANSYS will acquire Fluent in a series of mergers for
6,000,000 shares of its common stock and approximately $300 million in net
cash, subject to certain adjustments at closing.
"We are very pleased that we have received clearance and look forward to
closing the transaction and implementing our plan," said Jim Cashman, ANSYS
President and CEO. "The combination of ANSYS and Fluent will create
substantial benefits for our global customers, employees, partners and
shareholders, through continued investment and development of innovative
products and services, and our commitment to world-class execution."
"The ANSYS portfolio of engineering simulation technologies, when combined
with Fluent, will enhance our ability to deliver integration, functionality
and interoperability to a broad set of customers and industries," said Dr.
Bharatan Patel, CEO and founder of Fluent.
About ANSYS, Inc.
ANSYS, Inc., founded in 1970, develops and globally markets engineering
simulation software and technologies widely used by engineers and designers
across a broad spectrum of industries. The Company focuses on the development
of open and flexible solutions that enable users to analyze designs directly
on the desktop, providing a common platform for fast, efficient and cost-
conscious product development, from design concept to final-stage testing and
validation. The Company and its global network of channel partners provide
sales, support and training for customers. Headquartered in Canonsburg,
Pennsylvania U.S.A. with more than 25 strategic sales locations throughout the
world, ANSYS, Inc. and its subsidiaries employ approximately 600 people and
distribute ANSYS products through a network of channel partners in over 40
countries. Visit http://www.ansys.com for more information.
About Fluent Inc.
Fluent is a global provider of engineering simulation software
technologies and consulting services. Fluent's software is used for
simulation, visualization, and analysis of fluid flow, heat and mass transfer,
flow-induced noise and chemical reactions utilizing computational fluid
dynamics. It is a vital part of the CAE process for companies around the world
and is deployed in nearly every manufacturing industry. Using Fluent's
software, engineers build virtual prototypes and simulate the performance of
proposed and existing designs, allowing them to improve design quality while
reducing cost and speeding time to market. Fluent's corporate headquarters are
located in Lebanon, New Hampshire, USA, with offices in Belgium, England,
France, Germany, India, Italy, Japan, China and Sweden. For more information
visit, www.Fluent.com .
Certain statements contained in the press release regarding matters that
are not historical facts are "forward-looking" statements (as defined in the
Private Securities Litigation Reform Act of 1995). All forward-looking
statements in this press release are subject to risks and uncertainties.
Actual results could differ materially from those contained in the forward-
looking statements and are based on current expectations that involve a number
of risks and uncertainties, including, but not limited to, the risk that the
acquisition of Fluent may not be consummated or may not be consummated on the
timetable that ANSYS expects, that the business of ANSYS and Fluent may not be
integrated successfully or that such integration may take longer or cost more
to accomplish than expected, that potential difficulties may arise in the
assimilation of operations, strategies, technologies and products of Fluent,
that key personnel of Fluent may not stay with ANSYS, and that management's
attention may be diverted from other business concerns. Additional risks are
detailed from time to time in reports filed by ANSYS, Inc. with the Securities
and Exchange Commission, including ANSYS, Inc.'s 2005 Annual Report and Form
10-K. We undertake no obligation to publicly update or revise any forward-
looking statements, whether changes occur as a result of new information or
future events after the date they were made.
ANSYS, ANSYS Workbench, CFX, AUTODYN, and any and all ANSYS, Inc. product
and service names are registered trademarks or trademarks of ANSYS, Inc. or
its subsidiaries located in the United States or other countries. ICEM CFD is
a trademark licensed by ANSYS, Inc. All other trademarks or registered
trademarks are the property of their respective owners.
SOURCE ANSYS, Inc.
/CONTACT: Lisa O'Connor of ANSYS, Inc., +1-724-514-1782, or
/Web site: http://www.ansys.com
CO: ANSYS, INC.; Fluent Inc.
IN: CPR STW
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7139 04/27/2006 01:00 EDT http://www.prnewswire.com