News Article

Ansoft Corporation Signs Definitive Agreement to Be Acquired by ANSYS, Inc.
Date: Mar 31, 2008
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Featured firm in this article: Ansoft Corporation of Pittsburgh, PA

Dear Ansoft Employees,

Ansoft has signed a definitive agreement to be acquired by ANSYS, Inc. It is our pleasure to have this opportunity to express our excitement about the acquisition and what it will mean to Ansoft, our customers and our stockholders. The strategic combination of our two companies is based on complementary strengths which, merged together, create a leading provider of "best-in-class" simulation capabilities. Today, ANSYS is a global provider of simulation software and technologies designed to optimize product development processes for engineers and developers. The acquisition of Ansoft will provide ANSYS with an opportunity to enter the broader electronic design automation software industry and will enhance the breadth, functionality, usability and interoperability of the combined portfolio of engineering simulation solutions. The combined company will have trailing 12-month revenues of $485 million, over 40 direct sales offices and 21 development centers on three continents and approximately 1,700 employees worldwide.

Combining the strength of ANSYS and Ansoft should be excellent news for our employees and our customers. We are strengthening our company, diversifying our business, increasing our geographic reach and combining two strong brands. Both companies enjoy excellent reputations and we will continue to build upon that strength. The complementary combination of Ansoft's and ANSYS' software products and services is expected to give the combined company one of the most complete, independent engineering simulation software offerings in the industry.

We will keep you updated on events as we proceed. Our companies will operate as separate entities as the transaction goes through regulatory review and other closing processes. We currently expect the transaction to close in the second calendar quarter of this year. At the time of the closing, Ansoft will become part of ANSYS. In the meantime, please feel free to speak to your supervisor or human resources professional should you have any questions.

We would like to personally thank all of you for your significant contributions to Ansoft's success over the years. You have made us a profitable, well-respected provider of electronic design automation solutions. You all should be very proud of our accomplishments and, at the same time, very excited about the opportunity to participate in the future growth of a strong, well positioned company that will be a clear industry leader.