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Synopsys logoSynopsys SNPS

Synopsys said it and Ansys mutually agreed on March 19, 2024 to designate Dr. Ajei Gopal, Ansys' President and Chief Executive Officer, to join the Synopsys board upon completion of the acquisition.

8-KOther EventsFiled Period of report Summary published (UTC)

Key points

AI summary
  1. Synopsys said it and Ansys mutually agreed on March 19, 2024 to designate Dr. Ajei Gopal, Ansys' President and Chief Executive Officer, to join the Synopsys board upon completion of the acquisition.

  2. The company said Dr. Gopal's appointment to the board is subject to completion of Synopsys' director nomination process and satisfaction of all applicable eligibility requirements set by its Corporate Governance and Nominating Committee.

  3. Synopsys said it and Ansys agreed to select 2 members of Ansys' board to join the Synopsys board at completion of the acquisition, with the second member to be determined later by mutual agreement.

  4. Synopsys said the acquisition of Ansys under the Merger Agreement is pending, and that it filed a preliminary Form S-4 with the SEC on March 14, 2024, which has not yet become effective. The company said the Merger Agreement was dated January 15, 2024.

Summary

AI-written

Analysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Ansys CEO Ajei Gopal Agreed as Synopsys Director Nominee

Synopsys said it and Ansys mutually agreed on March 19, 2024 to designate Dr. Ajei Gopal, Ansys' President and Chief Executive Officer, to join the Synopsys board upon completion of the acquisition.

Source · Based on the filing body and exhibits

Nomination Conditions: Director Nomination Process and Eligibility Requirements

The company said Dr. Gopal's appointment to the board is subject to completion of Synopsys' director nomination process and satisfaction of all applicable eligibility requirements set by its Corporate Governance and Nominating Committee.

Source · Based on the filing body and exhibits

Agreement for 2 Ansys Board Members to Join Synopsys Board, Second to Be Decided Later

Synopsys said it and Ansys agreed to select 2 members of Ansys' board to join the Synopsys board at completion of the acquisition, with the second member to be determined later by mutual agreement.

Source · Based on the filing body and exhibits

Merger Agreement and Form S-4 Filing Status

Synopsys said the acquisition of Ansys under the Merger Agreement is pending, and that it filed a preliminary Form S-4 with the SEC on March 14, 2024, which has not yet become effective. The company said the Merger Agreement was dated January 15, 2024.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

Source: SEC EDGAR (U.S. Securities and Exchange Commission). Item captions are the SEC's. The summary is for reference only and is not investment advice.