Ansys says to acquire Fluent in $565 mln deal

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Ansys says to acquire Fluent in $565 mln deal
Thu Feb 16, 2006 5:32 AM ET
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ANSS.O

NEW YORK, Feb 16 (Reuters) - Ansys (ANSS. Quote, Profile, Research), a maker of simulation software, on Thursday said it agreed to buy software developer Fluent Inc. for about $565 million in cash and stock.

According to the deal, Ansys will issue 6 million of its shares and pay about $300 million in cash for Fluent. It will fund the transaction with existing cash and $200 million in committed bank financing.

Ansys said the purchase would increase its operational efficiency and lower design and engineering costs for customers. The combined company will employ about 1,350 people.

Fluent posted total sales of nearly $122 million in 2005, Ansys said.

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