In October 2022, Washington Post reviewed procurement documents and confirmed that Ansys technology had been acquired by seven Chinese entities present on either the export blacklist or with known links to Chinese missile technology. In November 2020, South China Morning Post reported that Ansys software had been used for Chinese military research in the development of hypersonic missile technology. In February 2000, Jim Cashman was appointed CEO.
įrom 1996 to 2000, profits at Ansys grew an average of 160 percent per year. However, revenue from services increased. In the late 1990s, Ansys shifted its business model away from software licenses, and corresponding revenue declined. īy 1997, Ansys had grown to $50.5 million in annual revenue.
Īnsys went public in 1996, raising about $46 million in an initial public offering. Peter Smith was appointed CEO and SASI was renamed after the software, Ansys, the following year. In 1994, Swanson sold his majority interest in the company to venture capitalist firm TA Associates. In 1992, SASI acquired Compuflo, which marketed and developed fluid dynamics analysis software.
According to The Engineering Design Revolution, the company became "well-respected" among engineering circles, but remained small. History īy 1991 SASI had 153 employees and $29 million in annual revenue, controlling 10 percent of the market for finite element analysis software. Westinghouse also became the first Ansys user. 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. Swanson developed the initial Ansys software on punch-cards and used a mainframe computer that was rented by the hour. (SASI) the next year, working out of his farmhouse in Pittsburgh. He founded Ansys under the name Swanson Analysis Systems Inc. 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. At the time, engineers performed finite element analysis (FEA) by hand. The idea for Ansys was first conceived by John Swanson while working at the Westinghouse Astronuclear Laboratory in the 1960s. Ansys became a component of the NASDAQ-100 index on December 23, 2019. In the 2000s, the company acquired other engineering design companies, obtaining additional technology for fluid dynamics, electronics design, and physics analysis. It develops and markets CAE/ multiphysics engineering simulation software for product design, testing and operation and offers its products and services to customers worldwide.Īnsys was founded in 1970 by John Swanson, who sold his interest in the company to venture capitalists in 1993. is an American multinational company with its headquarters based in Canonsburg, Pennsylvania.
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