Ansys to acquire Apache Design for $310 mn cash

CALIFORNIA, USA: Simulation software maker Ansys Inc said it agreed to acquire peer Apache Design Solutions for $310 million in cash to boost its offering for energy-efficient devices like tablets and smartphones.

Ansys intends to fund the transaction with cash on-hand, it said in a statement. The deal is expected to close in the third quarter of 2011.

Apache's software enables engineers to design power-efficient devices while satisfying ever-increasing performance requirements.