AUTOMOTIVE

As previously announced, ANSYS and Fluent have entered into a definitive merger agreement in which ANSYS will acquire Fluent in a series of mergers for 6,000,000 shares of its common stock and approximately $300 million in net cash, subject to certain adjustments at closing. "We are very pleased that we have received clearance and look forward to closing the transaction and implementing our plan," said Jim Cashman, ANSYS President and CEO. "The combination of ANSYS and Fluent will create substantial benefits for our global customers, employees, partners and shareholders, through continued investment and development of innovative products and services, and our commitment to world-class execution." "The ANSYS portfolio of engineering simulation technologies, when combined with Fluent, will enhance our ability to deliver integration, functionality and interoperability to a broad set of customers and industries," said Dr. Bharatan Patel, CEO and founder of Fluent.