Ansys to buy Esterel Technologies for about $53M
Ansys Inc., an engineering and design software company, said Tuesday that it has agreed to buy Esterel Technologies SA for about 42 million euros ($53 million) in cash.
Esterel's products allow software and systems engineers to design and produce embedded software, which is built into the electronics of aircraft, trains, automobiles, energy systems, medical devices and other industrial products that have central processing units, Ansys said.
The Elancourt, France-based company employs about 80 people and posted about 15 million euros in revenue for fiscal year 2011. The deal, which is expected to close in the third quarter of 2012, is subject to customary closing conditions and regulatory approvals, Ansys said.
Pittsburgh-based Ansys said the addition of Esterel will allow it to offer certain kinds of combined hardware and software products, speeding product development and lowering design and engineering costs for customers.
Its shares finished at $62.09 per share last week. They peaked for the past year at $69.34 earlier this month.