New Thought Technology (SNPS.US) issued the following statement regarding the European Commission's (EC) first-stage approval of its proposed acquisition of Ansys: We are thrilled that the EC has approved our transaction in the first stage, which promotes competition in the market. We continue to make significant progress in the regulatory approval process in various jurisdictions.
Earlier this week, the UK's Competition and Markets Authority preliminarily accepted New Thought Technology's proposed remedies for the first-stage approval. As previously mentioned by New Thought Technology in its earnings call on December 4, 2024, the waiting period under the US HSR Act has expired, and the company is actively cooperating with the US Federal Trade Commission to complete its review of its alternative remedies. The National Administration for Market Regulation of China has also formally accepted New Thought Technology's case and is currently under review. In addition, the company is cooperating with other relevant regulatory authorities to complete their reviews.
The company stated that customers have also continued to express their welcome and support for the transaction. New Thought Technology and Ansys work together to provide system design solutions that integrate deep electronic design automation (EDA) and simulation and analysis (S&A) software to meet the growing demand for such solutions, thereby driving innovation across various fields. New Thought Technology still expects the transaction to be completed in the first half of 2025.