Goodwin Reps Ansys In $310M Apache Design Buy

Law360, New York (June 30, 2011, 12:40 PM EDT) -- Pittsburgh-based simulation software developer Ansys Inc. said Thursday it would pay $310 million to buy Apache Design Solutions Inc., a Silicon Valley-based tech sector cousin that filed for an initial public offering in March.

The price tag includes $29 million in cash on the San Jose, Calif., target company's balance sheet, but does not include an additional $13 million in potential bonuses for Apache Design management to remain on board over a three-year period.

On March 14, Apache Design told the U.S. Securities and Exchange Commission...
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