Company: SNPS
Filing Date: 2025-09-09
Form Type: 10-Q
Source: 0000883241-25-000024
Chunk: 148

Company: SYNOPSYS INC
Filing Date: 2025-09-09
Form: 10-Q
Item: Item 8
Chunk 148
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 the effective time of the Ansys Merger (the Effective Time), each share of common stock, par value $0.01 per share, of Ansys (Ansys Common Stock) issued and outstanding immediately prior to the Effective Time (subject to certain exceptions) was converted into the right to receive (i) 0.3399 (the Exchange Ratio) of a share of common stock, par value $0.01 per share, of Synopsys (Synopsys Common Stock) (in the aggregate, the Stock Consideration) and (ii) $199.91 in cash, without interest (the Per Share Cash Amount, and in the aggregate, the Cash Consideration) (the Stock Consideration and the Cash Consideration, collectively, the Merger Consideration). In addition, we assumed certain outstanding Ansys options and other outstanding unvested Ansys equity awards held by continuing Ansys employees. The aggregate purchase consideration was approximately $34.9 billion, consisting of cash of $17.6 billion, Synopsys Common Stock with a fair value of $17.1 billion, and the balance related to the assumption of certain outstanding Ansys equity awards and the settlement of pre-existing relationships. We acquired Ansys to combine Synopsys’ semiconductor electronic design automation expertise with Ansys’ S&A capabilities to address the growing demand for integrated design and simulation tools across various industries. We funded the Cash Consideration in the Ansys Merger through a combination of cash on hand, the net proceeds from the issuance of the Senior Notes, and the borrowings under the Term Loan Agreement, each as defined and discussed in Note 10. Senior Notes, Bridge Commitment Letter, Term Loan and Revolving Credit Facilities of the Notes to Condensed Consolidated Financial Statements. The aggregate purchase consideration was preliminarily allocated as follows:

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(in thousands)Cash for outstanding Ansys Common Stock(1)$17,613,185 Fair value of Synopsys Common Stock issued for outstanding Ansys Common Stock(2)17,105,538 Fair value of assumed Ansys equity awards attributable to pre-combination services(3)130,963 Settlement of pre-existing relationships8,794 Total purchase consideration34,858,480 Less: cash acquired(931,740)Total purchase consideration, net of cash acquired$33,926,740 AllocationsTotal current assets902,639 Property and equipment105,193 Goodwill23,493,632