Synopsys down after UK watchdog says Ansys deal raises competition concerns

Altair Engineering

20/12/2024 15:24

(Updates)
    ** Shares of chip design software firm Synopsys  SNPS.O 
edge down 0.6% to $490.25
    ** UK's antitrust regulator Competition and Markets
Authority (CMA) says SNPS' $35 bln acquisition of simulation
software company Ansys  ANSS.O  could reduce innovation and lead
to higher prices
    ** CMA says it could approve the deal if those concerns are
resolved
    ** SNPS spokesperson says company had already taken steps to
address concerns raised by CMA and its plans included the sale
of its optical solutions business to Keysight Technologies
 KEYS.N , subject to the completion of ANSS deal
    ** Separately, Siemens  SIEGn.DE  would buy ANSS rival
Altair Engineering  ALTR.O  for $10.6 bln, companies said in
October; both Siemens and ALTR provide simulation technology to
help customers develop and test new products
    ** Up to last close, SNPS stock down ~4% this year

 (Reporting by Jaspreet Singh in Bengaluru)
 ((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))