Acquisitions

9 Months Ended

Sep. 30, 2019

On February 1, 2019, the Company completed the acquisition of 100% of the shares of Granta Design Limited (Granta Design) for a purchase price of $208.7 million, paid in cash and inclusive of final net working capital adjustments. The acquisition of Granta Design, the premier provider of materials information technology, expands ANSYS' portfolio into this important area, giving customers access to materials intelligence, including data that is critical to successful simulations.

Additionally, during the nine months ended September 30, 2019, the Company acquired Helic, Inc. and certain assets and liabilities of DfR Solutions to combine the acquired technologies with the Company's existing comprehensive multiphysics portfolio. The acquisitions were not individually significant. The combined purchase price of these other acquisitions was $102.7 million, paid in cash and inclusive of final net working capital adjustments.

The assets and liabilities of the acquisitions have been recorded based upon management's estimates of their fair market values as of each respective date of acquisition. The following tables summarize the fair values of consideration transferred and the fair values of identified assets acquired and liabilities assumed at each respective date of acquisition:

Fair Value of Consideration Transferred:



(in thousands)	Granta Design		Other Acquisitions		Total
Cash	$	208,736	$	102,737	$	311,473

Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed:



(in thousands)
Cash	$	13,644		$	2,842		$	16,486
Accounts receivable and other tangible assets	7,023			8,653			15,676
Developed software and core technologies (12-year weighted-average life)	32,445			17,761			50,206
Customer lists (13-year weighted-average life)	20,016			14,180			34,196
Trade names (10-year weighted-average life)	4,579			1,381			5,960
Accounts payable and other liabilities	(6,403		)	(4,704		)	(11,107		)
Deferred revenue	(1,426		)	(1,840		)	(3,266		)
Net deferred tax liabilities	(9,822		)	(5,049		)	(14,871		)
Total identifiable net assets	$	60,056		$	33,224		$	93,280
Goodwill	$	148,680		$	69,513		$	218,193

The goodwill, which is generally not tax-deductible, is attributed to intangible assets that do not qualify for separate recognition, including the assembled workforce of the acquired business and the synergies expected to arise as a result of the acquisitions.

The fair values of the assets acquired and liabilities assumed are based on preliminary calculations. The estimates and assumptions for these items are subject to change as additional information about what was known and knowable at the acquisition date is obtained during the measurement period (up to one year from the acquisition date).

On May 2, 2018, the Company completed the acquisition of 100% of the shares of OPTIS, a premier provider of software for scientific simulation of light, human vision and physics-based visualization, for a purchase price of $291.0 million, paid in

cash. The acquisition extends the Company's portfolio into the area of optical simulation to provide comprehensive sensor solutions, covering visible and infrared light, electromagnetics and acoustics for camera, radar and lidar.

The operating results of each acquisition have been included in the Company's condensed consolidated financial statements since each respective date of acquisition. The effects of the business combinations were not material to the Company's consolidated results of operations individually or in the aggregate.