Benzinga | May 17, 2021 08:58AM EDT

Ansys Acquires Phoenix Integration For Undisclosed Sum

* Ansys Inc (NASDAQ: ANSS) has acquired model-based engineering (MBE) and model-based systems engineering (MBSE) software provider, Phoenix Integration. The financial terms of the transaction were not disclosed.

* The acquisition will complement Ansys's acquisition of Dynardo in the process integration and design optimization space and expand its capabilities providing customers with strong MBE and MBSE offerings to further its pervasive engineering strategy, Ansys SVP Shane Emswiler said.

* The arrangement will help Phoenix's existing customers benefit from expanded access to physics-based simulation within their model-based engineering workflows, Phoenix CEO Jane Trenaman said.

* Ansys held $987.9 million in cash and equivalents as of Mar. 31, 2021.

* Price action: ANSS shares closed higher by 2.77% at $326.47 on Friday.