In early December, Livermore Software Technology Corporation (LSTC) was acquired by ANSYS, Inc. in a $784 million deal, making it the largest Tri-Valley acquisition of 2019.
Founded in 1987 and headquartered in Livermore, LSTC is a provider of simulation technology that is used to accurately predict complex, real-world problems, such as how vehicles and other objects behave in a collision. The technology is used in the automotive, aerospace, civil engineering, defense, manufacturing, and biomedical industries.
The acquisition enables ANSYS to deliver solutions to autonomous and electric vehicle manufacturers and suppliers. Customers of ANSYS will now have access to a wider range of advanced simulation technology in structures, fluids, electro magnetics, optics, safety, and machine learning.
A former physicist at the Lawrence Livermore Laboratory, John O. Hallquist, founded LSTC and served as its CEO. The acquired company will remain at its location in the Tri-Valley, and maintain its employees and research and development work there.
“This historic deal demonstrates the professional talent available in the Tri-Valley and the cutting-edge innovation that thrives here,” said Lynn Naylor, CEO of Innovation Tri-Valley.
The law firm of Hoge Fenton, with offices in Pleasanton, was the legal advisor for the LSTC acquisition. The firm worked with the company’s shareholders and management throughout the negotiation and documentation of the transaction.
Morgan Stanley Wealth Management’s Vaculin Lu Group, based in Pleasanton, was also involved in the deal.