O’Melveny Represents Gear Design Solutions in Proposed Acquisition by ANSYSJune 08, 2015
FOR IMMEDIATE RELEASE
O'Melveny & Myers LLP
|Emily Lattal |
O'Melveny & Myers LLP
SILICON VALLEY -- June 8, 2015 -- O’Melveny & Myers LLP represented big data analytics provider Gear Design Solutions, Inc., in its definitive merger agreement with ANSYS, Inc., a leading provider of engineering simulation software. The deal is expected to close in the third quarter 2015.
The transaction marks the second time in recent years that the same team at O’Melveny has counseled a company in its acquisition by ANSYS. In 2011, the Firm represented Apache Design Solutions, Inc., in its US$310 million purchase by ANSYS. O’Melveny also previously represented the founding team of Gear in the 2004 sale of its integrated circuit verification startup Mojave Design to chip design solutions provider Magma Design Automation.
The O’Melveny team was led by partners Brian Covotta and Warren Lazarow and included partners Eric Amdursky and Bob Fisher, senior counsel Warren Fox, counsel Brian Danella and Adam Bentley, associates Kyle Martin, Rebecca Starke, and Hao Wang, and senior paralegal Gail Guabello.
About O’Melveny & Myers LLP
With approximately 700 lawyers in 15 offices worldwide, O’Melveny & Myers LLP helps industry leaders across a broad array of sectors manage the complex challenges of succeeding in the global economy. We are a values-driven law firm, guided by the principles of excellence, leadership, and citizenship. Our commitment to these values is reflected in our dedication to improving access to justice through pro bono work and championing initiatives that increase the diversity of the legal profession. For more information, please visit www.omm.com.
The following release was issued by ANSYS:
ANSYS, Inc. Signs Definitive Agreement To Acquire Gear Design Solutions, Inc.
Acquisition boosts ANSYS' semiconductor simulation platform with big data analytics
PITTSBURGH, June 8, 2015 /PRNewswire/ -- ANSYS (NASDAQ: ANSS), the global leader and innovator of engineering simulation software, announced today that it has entered into a definitive merger agreement with Gear Design Solutions, Inc., a provider of big data analytics. The transaction is expected to close in the third quarter 2015.
Gear develops and markets a purpose-built big data platform to solve problems confronting next-generation semiconductor and electronic system designs. Gear's system elastically scales across common compute fabrics for rapid feedback toward meaningful high-impact design changes.
On-time and on-schedule delivery of robust, low-power, high-performance devices is key to the success of mobile, high-performance computing, automotive and Internet of Things electronic platforms. The combination of ANSYS' proven technologies for low-power designs and Gear's big data analytics will provide ANSYS' semiconductor and electronic system customers with a best-in-class simulation platform that provides measurement validated accuracy for design sign-off and accelerate early design closure decisions.
"ANSYS is leading the industry in providing a next-generation simulation platform that leverage state-of-the-art software engineering and compute infrastructures. Big data analytics will be increasingly important for our industry-leading semiconductor and electronic system customers to achieve faster time to market for their complex multi-core design platforms created using advanced manufacturing technologies," said Jim Cashman, ANSYS president and CEO. "Gear is an exciting addition to ANSYS that will complement our industry-standard offerings for low-power design simulation."
"System-on-chip and associated electronic systems are naturally big data problems – the interrelated nature of the billions of unknowns align with the core technologies inherent in Gear's simulation and analytics platform," said John Lee, Gear CEO. "We are excited to become part of the ANSYS family with its rich 45-year history of helping customers realize their product promise. We look forward to adding great value to the ANSYS simulation platform and to ANSYS customers."
About ANSYS, Inc.
ANSYS brings clarity and insight to customers' most complex design challenges through fast, accurate and reliable engineering simulation. Our technology enables organizations ― no matter their industry ― to predict with confidence that their products will thrive in the real world. Customers trust our software to help ensure product integrity and drive business success through innovation. Founded in 1970, ANSYS employs over 2,750 professionals, many of them experts in engineering fields such as finite element analysis, computational fluid dynamics, electronics and electromagnetics, and design optimization. Headquartered south of Pittsburgh, Pennsylvania, U.S.A., ANSYS has more than 75 strategic sales locations throughout the world with a network of channel partners in 40+ countries.
Visit www.ansys.com for more information. The ANSYS IR App – now available for download on iTunes and Google Play. ANSYS also has a strong presence on the major social channels. To join the simulation conversation, please visit: www.ansys.com/Social@ANSYS.
About Gear Design Solutions, Inc.
Based in San Jose, California, Gear develops and markets a purpose-built big data platform architected to solve the problems confronting next-generation semiconductor and electronic system designs. Gear's innovative big data system scales elastically across any high performance compute fabric enabling rapid feedback towards meaningful high-impact design changes. Founded in 2012, the company employs more than 10 professionals in San Jose and Austin, Texas.
Investors: Annette N. Arribas, CTP
Media: Amy Pietzak
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SOURCE ANSYS, Inc.