Posted By Global Banking and Finance Review
Posted on January 8, 2025
(Reuters) -The UK's competition regulator said on Wednesday it might accept remedies offered by chip design software maker Synopsys and Ansys to address the concerns raised over their $35 billion deal.
Synopsys announced its cash-and-stock deal for Ansys, whose software is used to make products ranging from airplanes to tennis rackets, in January last year.
The Competition and Markets Authority said the undertakings offered on Dec. 31 included the divestment of Ansys' power consumption analysis product for digital chips and Synopsys' sale of its global optics and photonics software business.
The CMA said it has until March 5 to decide whether to accept the undertakings, with the possibility to extend the deadline to May 6.
A Synopsys spokesperson said the companies are pleased with the regulator's decision, adding that the duo will maintain its "constructive and collaborative engagement" with the CMA.
(Reporting by Aby Jose Koilparambil and Prerna Bedi in Bengaluru; Editing by Shilpi Majumdar)