ANSYS Achievement
Ansys, Inc. is an American company based in Canons-burg, Pennsylvania. It develops and markets CAE(Computer Aided Engineering)/multi-physics engineering simulation software for product design, testing and operation and offers its products and services to customers worldwide.
Ansys was founded in 1970 by John Swanson, who sold his interest in the company to venture capitalists in 1993. Ansys went public on NASDAQ in 1996. In the 2000’s, the company acquired numerous other engineering design companies, obtaining additional technology for fluid dynamics, electronics design, and physics analysis. Ansys became a component of the NASDAQ-100 index on December 23, 2019.
Origin of ANSYS
The idea for Ansys was first conceived by John Swanson while working at the Westinghouse Nonnuclear Laboratory in the 1960’s. At the time, engineers performed finite element analysis (FEA) by hand. 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. He founded Ansys under the name Swanson Analysis Systems Inc. (SASI) the next year, working out of his farmhouse in Pittsburgh.
Swanson developed the initial Ansys software on punch-cards and used a mainframe computer that was rented by the hour.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. Westinghouse also became the first Ansys user.
History Of ANSYS
By 1991 SASI had 153 employees and $29 million in annual revenue, controlling 10 percent of the market for finite element analysis software.According to The Engineering Design Revolution, the company became “well-respected” among engineering circles, but remained small.
In 1992, SASI acquired Compulsory, which marketed and developed fluid dynamics analysis software.
In 1993, Swanson sold his majority interest in the company to venture capitalist firm TA Associates.Peter Smith was appointed CEO and SASI was renamed after the software, Ansys, the following year.
Ansys went public in 1996, raising about $46 million in an initial public offering.
By 1997, Ansys had grown to $50.5 million in annual revenue.
In the late 1990’s, Ansys shifted its business model away from software licenses, and corresponding revenue declined. However, revenue from services increased stronger.
From 1996 to 2000, profits at Ansys grew an average of 160 percent per year.
In February 2000, Jim Cash-man was appointed CEO. Current CEO Ajei S. Gopal was appointed in early 2017.
About ANSYS
Ansys develops and markets engineering simulation software for use across the product life cycle. Ansys Mechanical finite element analysis software is used to simulate computer models of structures, electronics, or machine components for analyzing the strength, toughness, elasticity, temperature distribution, electromagnetism, fluid flow, and other attributes. Ansys is used to determine how a product will function with different specifications, without building test products or conducting crash tests.For example, Ansys software may simulate how a bridge will hold up after years of traffic, how to best process salmon in a cannery to reduce waste, or how to design a slide that uses less material without sacrificing safety.
Most Ansys simulations are performed using the Ansys Workbench system, which is one of the company’s main products. Typically Ansys users break down larger structures into small components that are each modeled and tested individually.A user may start by defining the dimensions of an object, and then adding weight, pressure, temperature and other physical properties.Finally, the Ansys software simulates and analyzes movement, fatigue, fractures, fluid flow, temperature distribution, electromagnetic efficiency and other effects over time.
Ansys also develops software for data management and backup, academic research and teaching. Ansys software is sold on an annual subscription basis.
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