Siemens AG (www.siemens.com) has completed its acquisition of UGS Corp. (www.ugs.com), a supplier of product lifecycle management software and services. UGS will now be known as UGS PLM Software, a global division of the Siemens Automation and Drives division.
The companies announced on January 25, 2007 a definitive agreement for Siemens AG to acquire UGS for $3.5 billion, including assumption of existing debt. On April 27 the European Commission approved the planned acquisition of UGS, thus completing the standard anti-trust reviews of the transaction.
“This is a great day for UGS PLM Software on the heels of an outstanding first quarter,” said Tony Affuso, chairman and CEO of UGS PLM Software. “While we are still finalizing our numbers, we had a very strong quarter in Q1, coming in near 11 percent on total revenue growth and 16 percent on software license growth. Now the acquisition enables the company and its people to leverage a powerful and respected global organization like Siemens in strengthening our technology leadership in PLM. The acquisition also clearly sets a new agenda for the entire PLM industry. Customers across manufacturing and process industries will now able to benefit from the integration of the physical world, through Siemens’ leading automation design and production technology, and the virtual world, through UGS PLM Software’s leading factory design, product design and digital collaboration software.”