PITTSBURGH and ELANCOURT,
May 29, 2012
/PRNewswire/ -- ANSYS, Inc. (NASDAQ: ANSS), a global innovator of simulation, and Esterel Technologies S.A. ("Esterel") a leading provider of embedded software simulation solutions for mission critical applications, announced today that they signed a definitive agreement whereby ANSYS will acquire Esterel Technologies for a cash purchase price of approximately
euro 42 million
), subject to certain working capital adjustments at close. The agreement also includes retention provisions for key members of management and employees. Headquartered in Elancourt,
, Esterel has about 80 employees and reported revenues of approximately
euro 15 million
for fiscal year 2011. The transaction, currently anticipated to close in the third calendar quarter of 2012, is subject to customary closing conditions and regulatory approvals.
The Esterel SCADE solution enables software and systems engineers to design, simulate and produce embedded software, the control code built into the electronics in aircraft, rail transportation, automotive, energy systems, medical devices and other industrial products that have central processing units. Modern products are increasingly complex systems of hardware, software and electronics. For example, today's complex aircraft, rail and automotive products often have tens of millions of lines of embedded software code, from flight controls and cockpit displays, to engine controls and driver assistance systems. Esterel is often chosen when the embedded software is critical for safety and compliance reasons. Esterel provides software and systems engineers a solution to accurately model and simulate the behavior of the embedded software code to gain insight earlier in the design process and trace it to its requirements. Esterel solutions also reduce engineering time and cost by automatically generating certified and dependable embedded software code from these high fidelity models. Esterel certified code generators are currently compliant with more than 10 certification standards including aerospace, defense, rail transportation, automotive, industrial systems and nuclear plants.