Seoul, June 12: South Korea's antitrust regulator said on Wednesday that it has launched a review of chip design software giant Synopsys’ proposed acquisition of engineering software firm Ansys.

The US-based software maker said in January that it struck a $35 billion deal to buy Ansys, an American firm that makes software used to simulate and analyse product designs for electronics manufacturers and carmakers, among others, reports Yonhap news agency. ChatGPT Surpasses One Million Users in South Korea: Industry Data.

"We will carefully assess whether the proposed transaction would negatively affect competition or hamper innovation in the sector in accordance with due standards and processes under the Fair Trade Act," the Fair Trade Commission (FTC) said in a release. South Korea To Invest USD 1.8 Billion in Developing Next-Generation Nuclear Reactors Technologies by 2034.

"We will closely cooperate with foreign regulators and listen to opinions from competitors and other stakeholders at home and abroad over the course of our deliberation," it added. The regulator will review the deal for 30 days, and the review period can be extended to 90 days. If finalised, it will be the biggest acquisition in the technology sector since chipmaker Broadcom's takeover of software maker VMware in 2023.

(The above story first appeared on LatestLY on Jun 12, 2024 02:46 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).