Livermore Software Technology Corporation has agreed to be sold to ANSYS, Inc.
Livermore Software Technology Corporation (LSTC) has entered into a definitive agreement to be acquired by ANSYS, Inc. (NASDAQ: ANSS). The purchase price for the transaction is $775 million, of which 60% of the consideration will be paid in cash and 40% will be paid through the issuance of ANSYS common stock to the current owners of LSTC. The transaction is expected to close in the fourth quarter of 2019, subject to customary closing conditions and regulatory clearance.
Founded in 1987 and headquartered in Livermore, California, LSTC is the premier provider of explicit dynamics and other advanced finite element analysis technology. LSTC’s widely adopted solution, LS-DYNA, a highly scalable multiphysics solver, accurately predicts and simulates complex real-world problems for the automotive, aerospace, civil engineering, defense, manufacturing and biomedical industries, among others. Once closed, the acquisition will enable ANSYS to significantly advance the existing integration of LS-DYNA into the ANSYS Workbench environment, providing ANSYS customers seamless access to an even wider range of advanced simulation technology. The combined companies’ strengths in simulation for structures, fluids, electromagnetics, optics, safety and machine learning will deliver a powerful solution for autonomous and electric vehicles to global automotive manufacturers and their suppliers.
Scott Twibell, Managing Director and Co-Head of Lincoln International’s Technology, Media & Telecom Group, added, “We have enormous respect for what LSTC and its’ talented employees have built, and we truly enjoyed working with the LSTC team on this successful transaction. We offer our congratulations to both the company and ANSYS as the combination will further provide world-class advanced simulation solutions to customers globally.”
Lincoln International acted as the exclusive financial advisor for LSTC, working closely with the company’s management team and shareholders throughout the sale process. This included providing advisory expertise and managing the marketing, negotiation and due diligence phases of the transaction.
It was a pleasure to work with the Lincoln team on this historic transaction for LSTC. Lincoln’s extensive domain knowledge in the engineering software space, as well as deep industry relationships and process expertise, were invaluable in this transaction.
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