By Berk Kutay Gokmen
ISTANBUL (AA) – China on Monday approved the conditional merger of two US-based software companies, the state-run Global Times reported.
China’s State Administration for Market Regulation announced that it has approved the acquisition of simulation software company Ansys by Synopsys with conditions.
The approval comes after the US recently relaxed its export regulations on semiconductor design software, enabling companies such as Synopsys to start selling chip design software to Chinese clients again.
According to the SAMR, the approval was given in light of promises made by the businesses, and the combined company must adhere to certain requirements.
Under these circumstances, the firms must continue to provide electronic design automation products to Chinese clients on fair, reasonable, and non-discriminatory terms and respect current customer contracts, including those pertaining to price and service terms.
The companies also have to uphold and extend interoperability agreements in response to requests from Chinese customers.
Last year, Synopsys, a manufacturer of electronic design automation tools for chip design, announced that it would buy Ansys for $35 billion in cash and stock. Although the deal has already received approval from US and European authorities, it has been the subject of antitrust scrutiny in important markets.