UK Watchdog Open to Remedies in $35B Synopsys-Ansys Deal!

(Reuters) – The UK’s competition regulator announced on Wednesday that it is considering the potential acceptance of proposed solutions put forth by chip design software company Synopsys and Ansys to address concerns surrounding their $35 billion deal. Synopsys had unveiled its cash-and-stock acquisition of Ansys, a provider of software utilized in the creation of a wide array of products such as airplanes and tennis rackets, in January of the previous year.

The Competition and Markets Authority disclosed that the commitments tabled on December 31 encompass the disposal of Ansys’ power consumption analysis tool for digital chips and the divestment of Synopsys’ global optics and photonics software business. A decision by the CMA on whether to approve the commitments is expected by March 5, with the potential for an extension of the deadline until May 6.

In response to the regulator’s stance, a spokesperson for Synopsys expressed contentment with the outcome, emphasizing the companies’ intent to sustain a “constructive and collaborative engagement” with the CMA.

(Reporting by Aby Jose Koilparambil and Prerna Bedi in Bengaluru; Editing by Shilpi Majumdar)

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