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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): August 9, 1996
Ansoft Corporation
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(Exact name of registrant as specified in its charter)
Delaware 0-27874 72-1001909
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification Number)
Four Station Square, Suite 660, Pittsburgh, PA 15219
(Address of principal executive offices) (ZIP Code)
Registrant's telephone number, including area code: (412) 261-3200
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Item 2. ACQUISITION OR DISPOSITION OF ASSETS.
On July 25, 1996, the registrant acquired the assets of the
MacNeal-Schwendler Corporation's Electronics Business Unit including certain
customer contracts, employment arrangements, equipment, distributor/reseller
agreements and software programs for $5.6 million dollars in cash and the
assumption of certain liabilities under the above-mentioned customer contracts.
The registrant intends to continue to use the equipment purchased from the
MacNeal-Schwendler corporation for its electronic design automation software
business. The registrant determined that the consideration paid for the
Electronics Business Unit represented the fair market value of the business by
considering the historical revenues of the Electronics Business Unit and the
fair market value of the net tangible assets purchased. The cash consideration
provided by the registrant in the transaction represented a portion of the net
proceeds of the registrant's recently completed initial public offering.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS.
At the time of filing of this Current Report on Form 8-K, it
is impracticable to provide the required financial statements for the
Electronics Business Unit. The registrant will file such financial statements
within 60 days after the date of this Current Report on Form 8-K.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
ANSOFT CORPORATION
By: /s/ NICHOLAS CSENDES
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Nicholas Csendes
President
Dated: August 9, 1996
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EXHIBIT INDEX
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Exhibit No. Description Reference
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99 Press Release dated July 25, 1996 Filed herewith.
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Exhibit 99
ANSOFT ACQUIRES MACNEAL SCHWENDLER'S ELECTRONIC BUSINESS UNIT
Pittsburgh, PA -- July 25, 1996 -- Ansoft Corporation (NASDAQ National Market
Symbol ANST) announced today that it has successfully completed the acquisition
of the Electronics Business Unit from The MacNeal Schwendler Corporation (MSC)
for $5.6 million in cash.
Ansoft president Nick Csendes said, "We believe that this development
reinforces Ansoft's position as the leader in electromagnetics based EDA. By
consolidating our strengths we feel that we can deliver significant value to
our customers and to our shareholders by focusing on product and industry
expansion."
MSC's customers will benefit by gaining access to Ansoft's technology and
electromagnetics expertise and leadership. Ansoft's customers will benefit
through an even greater focus on product development and distribution, as well
as an ability to choose the "best of breed" solutions. The transition of MSC's
electrical and electronics customers to Ansoft is expected to be accomplished
through seamless translators, unified product evolution, and pro-active
training to assure maximum customer productivity and satisfaction.
MSC's Electronics Business Unit currently has 27 employees worldwide including
7 in Europe and 4 in Asia. Prior to this acquisition, Ansoft had 70 employees
worldwide.
Ansoft Corporation develops, markets, and supports EDA software products that
enable leading edge performance and miniaturization of electronic,
communication, and electromechanical systems. Ansoft markets its products
worldwide through its direct sales force and distributors, and provides
comprehensive customer support and training. Ansoft customers are leading
electronics, telecommunications, and automotive companies including GM,
Motorola, Raytheon, TRW, Mitsubishi, Texas Instruments, Hitachi,
Lucky-Goldstar, AT&T and Sun Microsystems.
