UK competition regulator clears $35 billion Synopsys-Ansys deal

(Reuters) -Britain’s competition regulator on Wednesday cleared chip-design-software maker Synopsys’ $35 billion deal to buy Ansys after accepting certain remedies from the companies.

The regulator said it would not refer the proposed acquisition to an in-depth phase-2 probe.

The watchdog had said in December the deal could reduce innovation and lead to higher prices, but could be approved if the companies resolved those concerns.

Synopsys, which makes tools for chip design, announced its cash-and-stock deal for Ansys in January. The target company’s software is used to make a wide range of products, from airplanes to tennis rackets.

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Shilpi Majumdar and Devika Syamnath)