Semiconductor design and software firm Synopsys on Tuesday announced it would acquire Ansys , an engineering and product design software firm, in a cash-and-stock deal valued at approximately $35 billion. Synopsys will pay consideration of roughly $390 per share: $197 per share in cash and roughly one-third of a Synopsys share for each Ansys share. Synopsys shares were up 3% on Tuesday morning, after a 12% slump since The Wall Street Journal reported in December that the two companies were in advanced talks. Ansys shares slipped 5% but were up more than 14% in that same period since December. The remaining $3 billion nonequity consideration will come from Synopsys' cash.

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Persons: Synopsys, Ansys, Sassine Ghazi, Shelagh Glaser, Ghazi, Ajei Gopal, Evercore, Cleary Gottlieb Steen, Hamilton, Goodwin Procter, Raimondo, Chips Organizations: Street, Activision Blizzard, VMware, Cisco, Splunk, Qatalyst Partners Locations: China