Small world: Gallello takes reins at MSC

Oct 14, 2009 | Hot Topics

Symphony Technology Group (STG) announced today that it has completed its acquisition of MSC Software for a grand total of $390 million and that Dominic Gallello will be taking over as CEO.According to the press release, STG "will build a stronger company,...

Shareholders vote today on MSC/Symphony deal

Oct 9, 2009 | Hot Topics

MSC.Software Corporation holds a meeting today at 9AM Pacific at which shareholders will have their say on the deal reached last month with Symphony Technology Group to buy the company for $8.40 per share in cash. The share closed yesterday at $8.41, so someone still...

Are we done? MSC accepts Symphony offer of $8.40/share

Sep 29, 2009 | Hot Topics

MSC.Software Corporation announced today that it has entered into an agreement with Symphony Technology Group at $8.40 per share in cash. Recall that MSC announced that it had received an offer from third-party private equity firms to acquire the company for...

Hmm: Some on Wall St think we’re not done with MSC

Sep 27, 2009 | Hot Topics

We’ll find out soon enough, but at least some investors think that MSC has or is about to receive an offer of more than $8.30 per share. The stock closed the week at $8.31 but dipped back to $8.26 in after-hours trading on Friday. We’ve gone from a total deal value of...

Update: MSC gets yet another offer, postpones meeting

Sep 22, 2009 | Hot Topics

MSC Software announced today that it received a new offer from the unnamed party bidding on the company of $8.30 per share. Symphony now has until September 28 to make a “responsive offer”. Under the original deal struck between MSC and Symphony, MSC may terminate...

Symphony ups its offer to $8.15/share for MSC

Sep 17, 2009 | Hot Topics

In a sort of non-announcement, MSC Software today announced that Symphony Technology Group has bumped its offer to $8.15 per share in cash, equalling the offer it received from an unnamed third party last week. According to the press release, “The MSC Board of...

MSC bidding war heats up

Sep 15, 2009 | Hot Topics

MSC Software announced that its board of directors has received revised offers to acquire the company. The original offer of $7.63 per share from Symphony was trumped last week when an unnamed party offered $8.00 per share; under the original agreement between...

MSC gets another offer

Sep 9, 2009 | Hot Topics

Remember suitor M, described in MSC’s proxy as not having financing available by the end of August? Well, that may have changed. Or it may be a completely new entrant – who knows?MSC just announced that it has received a proposal “superior” to that from Symphony...

MSC proxy: drama, mystery and 13 suitors

Sep 2, 2009 | Hot Topics

MSC Software has finally filed the proxy statement for its proposed acquisition by Symphony Technology Group – and it makes interesting reading. At the very least, it explains why it took so long to get the proxy to the SEC.First, a proxy statement is a document...

More on ANSYS and MSC Q2 — are we at the bottom of the U? W?

Aug 9, 2009 | Hot Topics

MSC Software and ANSYS filed quarterly reports with the SEC on Friday, so we now have more information about each company’s Q2. Recall that MSC didn’t hold a conference call for analysts because of the pending acquisition by Symphony Technology Group; ANSYS did hold a...