By Edith Hancock
California chip design software giant Synopsys has struck a deal with electronics company Keysight as it works to get its planned $35 billion acquisition of Ansys approved by the European Union's competition regulator.
Synopsys said on Monday that Keysight has agreed to buy Ansys' PowerArtist software tool, saying the transaction is still subject to review by regulatory authorities.
The European Commission had set a Jan. 10 deadline to decide whether to approve the deal or move to an in-depth investigation, a process that can make it more difficult for companies to close transactions. The groups still expect to close their deal in the first half of 2025.
Synopsys agreed to buy Ansys in January 2024 in a bid to create a new software giant that extends Synopsys' reach in simulation software for designers of microchips, cars and airplanes.
The deal is also being looked at by the U.K. Competition and Markets Authority, which signalled last month it could clear it if the companies offer up remedies that address its own concerns.
Write to Edith Hancock at edith.hancock@wsj.com
(END) Dow Jones Newswires
January 06, 2025 16:55 ET (21:55 GMT)
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