Ansys & Synopsys to Offload Ansys PowerArtist to Keysight Technologies

ANSYS, Inc. ANSS and Synopsys, Inc. SNPS have announced a definitive agreement to sell Ansys' PowerArtist business to Keysight Technologies, Inc. KEYS.The transaction is contingent upon standard closing conditions, including regulatory review and the completion of Synopsys' planned acquisition of Ansys. The deal is currently awaiting regulatory approvals and is anticipated to be finalized in the first half of 2025.PowerArtist, a register-transfer-level (RTL) design-for-power platform, is leveraged by semiconductor companies to execute early-stage power analysis. KEYS sees the acquisition as a step to strengthen its high-performance system design portfolio.ANSYS, Inc. Price and Consensus ANSYS, Inc. price-consensus-chart | ANSYS, Inc. QuoteThe sale is not financially significant to Ansys, and terms remain undisclosed. Ansys will continue offering PowerArtist until the deal closes, ensuring uninterrupted customer support.Recap of ANSS-SNPS DealAnsys is leading in the high-end design simulation software market and its products are widely utilized by major manufacturing companies. By enabling virtual prototyping instead of physical prototypes, Ansys helps these companies significantly reduce costs. Its comprehensive product portfolio and cross-domain capabilities are expected to drive customer growth.In January 2024, Synopsys announced the acquisition of ANSYS in a deal valued at $35 billion. The deal will create a giant in the electronic design automation (EDA) software space. The partnership between Synopsys' advanced semiconductor EDA and Ansys' simulation and analysis tools is set to revolutionize the silicon and systems design market. This collaboration addresses the growing need for improved computing performance and efficiency, driven by the increasing complexity of AI (artificial intelligence), the spread of silicon technology and software-defined systems.In May 2024, Ansys stated that about 98.7% of the shareholders voted in favor of the acquisition, which represented approximately 83.8% of the total outstanding shares of the company’s common stock. On Oct. 9, 2024, the company also received an unconditional clearance from the Israeli Competition Authority.Given the pending acquisition, Ansys has suspended quarterly earnings conference calls and no longer provides a financial outlook. It expects 2024 annual contract value or ACV to grow in double-digits.ANSS’ Zacks Rank & Stock Price PerformanceAnsys currently carries a Zacks Rank #3 (Hold). Shares of the company have jumped 5.6% in the past three months compared with the industry's growth of 3.5%.Image Source: Zacks Investment ResearchStock to ConsiderOne better-ranked stock from the broader technology space is BlackBerry Limited BB. BB carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.BlackBerry provides intelligent security software and services to enterprises and governments around the world. The company uses machine learning and AI to provide cutting-edge solutions for cybersecurity, safety and data privacy. The company continues to invest in product development and go-to-market strategy to drive long-term sustainable growth.BlackBerry earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 131.25%. In the last reported quarter, BB delivered an earnings surprise of 200%. Its shares have surged 74.4% in the past three months.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks