Project 3

By 1991 SASI had 153 employees and $29 million in annual revenue,^[5] controlling 10 percent of the market for finite element analysis software.^[5] According to The Engineering Design Revolution, the company became "well-respected" among engineering circles, but remained small.^[6]

In 1992, SASI acquired Compuflo, which marketed and developed fluid dynamics analysis software.^[6]

In 1993, Mr. Swanson sold his majority interest in the company to venture capitalist firm TA Associates.^[3][5] Peter Smith was appointed CEO^[6] and SASI was renamed after the software, Ansys, the following year.^[3][5]

Ansys went public in 1996, raising about $46 million in an initial public offering.^[6]

By 1997, Ansys had grown to $50.5 million in annual revenue.^[7]

In the late 1990s, Ansys shifted its business model^[6] away from software licenses, and corresponding revenue declined.^[6] However, revenue from services increased stronger.^[6]

From 1996 to 1999, profits at Ansys grew an average of 160 percent per year.^[5]

In February 2000, Jim Cashman was appointed CEO.^[6] Current CEO Ajei S. Gopal was appointed in early 2017.