BEIJING (Reuters) -China’s market regulator has conditionally approved the acquisition of simulation software company Ansys by U.S. software firm Synopsys’, the State Administration for Market Regulation said on Monday.
The approval comes after the United States lifted restrictions on exports to China for chip design software developers earlier this month, allowing companies, including Synopsys, to restore access to their software and technology for Chinese customers.
The Chinese regulator said it approved the deal based on restrictive commitments submitted by the companies, requiring the merged entity to fulfil several obligations.
The conditions require the companies to honour existing customer contracts, including pricing and service terms, and continue supplying electronic design automation products to Chinese customers on fair and non-discriminatory terms.
The companies will also be required to maintain existing interoperability agreements and renew them upon request from Chinese customers.
(Reporting by Liam Mo and Brenda Goh; Editing by Himani Sarkar and Rachna Uppal)
