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Ansys Inc.
Ansys Inc. headquarters building in Canonsburg, Pennsylvania.
Public
Traded as	NASDAQ: ANSS S&P 500 Component
Industry	Computer software
Founded	Canonsburg, Pennsylvania, United States (1970)
Headquarters	Canonsburg, Pennsylvania, United States
Key people	James E. Cashman III, Chairman Ajei S. Gopal, President and CEO
Products	Ansys suite of engineering simulation software
Revenue	$1.0953 billion (2017)^[1]
$390 million (2017)^[1]
$259 million (2017)^[1]
Total assets	$2.9 billion (2017)^[1]
Total equity	$2.2 billion (2017)^[1]
+2,900 (2017)^[1]
Website	www.ansys.com

Ansys Inc. is an American public company based in Canonsburg, Pennsylvania. It develops and markets engineering simulation software. Ansys software is used to design products and semiconductors, as well as to create simulations that test a product's durability, temperature distribution, fluid movements, and electromagnetic properties.

Ansys was founded in 1970 by John Swanson. Swanson sold his interest in the company to venture capitalists in 1993. Ansys went public on NASDAQ in 1996. In the 2000s, Ansys made numerous acquisitions of other engineering design companies, acquiring additional technology for fluid dynamics, electronics design, and other physics analysis.

1Corporate history
2Software

Corporate history[edit]

Origins[edit]

The idea for Ansys was first conceived by John Swanson while working at the Westinghouse Astronuclear Laboratory in the 1960s.^[2] At the time, engineers performed finite element analysis (FEA) by hand.^[2] Westinghouse rejected Swanson's idea to automate FEA by developing general purpose engineering software, so Swanson left the company in 1969 to develop the software on his own.^[2] He founded Ansys under the name Swanson Analysis Systems Inc. (SASI) the next year, working out of his farmhouse in Pittsburgh.^[3]^[4]

Swanson developed the initial Ansys software on punch-cards and used a mainframe computer that was rented by the hour.^[2] Westinghouse hired Swanson as a consultant, under the condition that any code he developed for Westinghouse could also be included in the Ansys product line.^[3] Westinghouse also became the first Ansys user.^[3]

Growth[edit]

By 1991 SASI had 153 employees and $29 million in annual revenue,^[5] controlling 10 percent of the market for finite element analysis software.^[5] According to The Engineering Design Revolution, the company became 'well-respected' among engineering circles, but remained small.^[6] In 1992, SASI acquired Compuflo, which marketed and developed fluid dynamics analysis software.^[6]

In 1993, Mr. Swanson sold his majority interest in the company to venture capitalist firm TA Associates.^[3]^[5] Peter Smith was appointed CEO^[6] and SASI was renamed after the software, Ansys, the following year.^[3]^[5] Ansys went public in 1996, raising about $46 million in an initial public offering.^[6] By 1997, Ansys had grown to $50.5 million in annual revenue.^[7]

In the late 1990s, Ansys shifted its business model.^[6] It focused less on selling software licenses and corresponding revenue declined.^[6] However, revenue from services increased more dramatically.^[6] From 1996 to 1999, profits at Ansys grew an average of 160 percent per year.^[5] In 1999, Ansys acquired Centric Engineering Systems, a private company based in California that developed fluid, structural and thermal analysis software.^[5]

2000s[edit]

In February 2000, Jim Cashman was appointed CEO.^[6] Later that year, Ansys acquired ICEM CFD Engineering software for $12.4 million.^[5]^[8] ICEM was focused on mesh simulations for aerospace, automotive and electronics engineering design.^[5] In 2001, Ansys acquired a French computer-aided design company called Cadoe.^[3]^[5]^[8] Ansys acquired CFX, which developed fluid dynamics simulation software, two years later.^[5] In 2005, Ansys acquired Century Dynamics, a developer of hydrodynamics simulation tools, for $5 million.^[5] Later that year, it acquired Harvard Thermal Inc., which focused on simulating the cooling time and temperature of electronics.^[5]

In 2006, Ansys acquired Fluent Inc. and its fluid dynamics tools for $299 million.^[5]^[6] Before the acquisition, Fluent was the second-largest fluid dynamics company, followed by Ansys.^[5] Ansys acquired Ansoft Corporation, an electronics design provider, for $387 million two years later.^[5] In 2011, Ansys paid $310 million to acquire former competitor Apache Design Solutions, which was focused on semiconductor simulation software.^[9]

In 2012, Ansys acquired Esterel Technologies, a French-based company focused on simulating interactions between software and hardware, for $53 million.^[10] The following year, Ansys acquired EVEN (Evolutionary Engineering), a cloud-based software company for engineering composites,^[11] for an undisclosed sum. EVEN became a subsidiary of Ansys called Ansys Switzerland.^[12]

Ansys acquired a 3-D modeling company called SpaceClaim in 2014 for $85 million.^[13]^[14] This was followed by deals for the analytics company Gear Design Solutions (2015),^[15] the systems analysis company Delcross Technologies (2015),^[16] an automotive design company called KPIT medini Technologies AG (2016), ^[17] a 3D printing company called 3DSIM (2017),^[18] and an optical simulation company called OPTIS (2018).^[19] Current CEO Ajei S. Gopal was appointed in early 2017.^[20]^[21]

Software[edit]

Ansys develops and markets finite element analysis software used to simulate engineering problems.^[7] The software creates simulated computer models of structures, electronics, or machine components to simulate strength, toughness, elasticity, temperature distribution, electromagnetism, fluid flow, and other attributes.^[7] Ansys is used to determine how a product will function with different specifications, without building test products or conducting crash tests.^[5] For example, Ansys software may simulate how a bridge will hold up after years of traffic, how

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