Synopsys CEO Sassine Ghazi took us inside his $35 billion acquisition of Ansys, which closes today

With tensions high, the business case for bringing together two U.S. tech companies making products critical for Chinese clients wasn’t going to sell itself. “I’ve been to China maybe eight times this year,” he said. “I found myself being a U.S. ambassador to China, explaining the Synopsys position and understanding what they care about. And, back in the U.S., representing the importance and need for us as a global company to continue leading with innovation.”

The tough part wasn’t the antitrust review of a $6.1 billion-a-year leader in chip design’s bid to buy a $2.5 billion-a-year leader in engineering software, he said. It was negotiating “access to the technology in the event things happen between the two countries.” What helped was “overwhelming customer support” and a recognition among Chinese regulators that “if they were too difficult or too constraining, it’s not good for China.” (The Federal Trade Commission had granted conditional approval in May.) 

His advice for others trying to win over authorities in both markets? “From the beginning, the message was consistent with the U.S. and with China: I’m not a politician. I represent a global company with opportunities that we see across every region,” he said. “With China in particular, I believe they have a great opportunity to take their strength in manufacturing and take it to the next level of intelligent manufacturing. And the U.S. has many, many other strengths with compute, software applications, etc. It’s important for Synopsys to have access to both markets to continue leading.” 

And it mattered that he went to China to speak with officials himself. “I was not getting an update once a month on how things are going. Did I have moments where it was depressing, leaving a meeting and seeing all kinds of surprises happening out of our control? Of course. At the end of May, we had a complete blackout and restriction on selling to China. That was a tough moment. I happened to be in China the week after, having to explain it, not knowing how long these uncertainties will be. I never doubted we’d get it done, but I started doubting the timing.”

Contact CEO Daily via Diane Brady at diane.brady@fortune.com

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Wedbush on woes at ASML: “View: ASML's preliminary remarks highlighted the impact geopolitical tensions and threatened US tariffs are having on future business prospects. While ASML's bookings (~25% ahead of prior expectations) seemingly point to solid near-term conditions; management pointed to a lack of clarity around future results given the potential impact of policy decisions. ASML management noted for instance a 30% tariff on European goods could for instance lift the price of an EUV tool from €250 to €325). As such, management suggested they could not at this juncture confidently forecast revenue growth in 2026 (a result that in turn is weighing heavily on the stock this AM),” per Matt Bryson and Antoine Legault.

Wedbush on Q2 tech earnings preview: “In our view the Street is underestimating the underlying AI driven growth ahead and we expect a very strong 2Q tech earnings season over the coming weeks that further validates our bullish thesis led by Big Tech stalwarts … Our top 5 Wedbush tech picks for the second half of the year are Nvidia, Meta, Microsoft, Palantir, and Tesla,” per Daniel Ives et al.

Around the watercooler

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CEO Daily is compiled and edited by Joey Abrams and Jim Edwards.