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Synopsys confirmed Tuesday an agreement to buy design-software company Ansys in a cash-and-stock deal valued at $35 billion, as the companies look to ride...

NEW YORK (Reuters) -Chip design software maker Synopsys said on Tuesday it would buy Ansys in a $35 billion cash-and-stock deal, snapping up the maker of software used in creating products from airplanes to tennis rackets of players like Novak Djokovic. The transaction would be the biggest acquisition in the technology sector since chipmaker Broadcom took over software maker VMware last November in a $69 billion deal. It could herald more big deals as a pick up in economic sentiment and some failed attempts by antitrust regulators to thwart deals embolden chief executives to place large acqu...

The merger of the design-software companies is expected to close next year.

Shares of engineering simulation software provider Ansys (NASDAQ:ANSS) fell 5.4% in the afternoon session after the company announced that it has agreed to be acquired by Synopsys, with Ansys shareholders set to receive $197 in cash and 0.345 shares of Synopsys common stock per Ansys share. This equates to a $390 per share offer price. The resulting enterprise value is approximately $35 billion, making for a large deal in semis.

Quantum3D has delivered its next-generation visual simulation system to Ultrontek in Taiwan.