Thursday, January 25, 2007
Siemens AG buys Plano-based UGS
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PLANO — Munich-based Siemens has agreed to buy Plano software maker UGS Corp. The purchase price amounts to US $3.5 billion, including assumption of existing debt. The activities of UGS are to be assigned to the Siemens Automation and Drives Group (A&D). A&D will thus become the first supplier for the manufacturing industries to provide an end-to-end software and hardware portfolio encompassing the complete lifecycle of products and production facilities. The transaction is subject to the approval by the relevant authorities.
With a global workforce of 7,300 and more than 46,000 customers in 62 countries, Plano-based UGS is a worldwide leader in PLM software and services. PLM is a mission-critical, enterprise business platform that helps companies to digitally create, build and manage their products. In fiscal 2005, the company reported revenue of just under US$1.2 billion, and in the third quarter 2006, the company reported its 13th consecutive quarter of year-over-year revenue growth.
UGS and Siemens A&D already started their business relationship in 2003 with joint projects addressing digital manufacturing technology.
UGS was sold by EDS in 2004 to Bain Capital Partners, Silver Lake Partners and Warburg Pincus LLC, reportedly for just more than $2 billion.
Siemens has announced that they will "integrate" around 3000 of the UGS software engineers, and 7000 in total. Siemens employs about 43,000 worldwide, including offices throughout the DFW.
Source: Siemens & UGS
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