Siemens snaps up soft­ware firm

The Myanmar Times - - International Business -

GER­MAN in­dus­trial gi­ant Siemens is buy­ing US soft­ware firm Men­tor Graph­ics for US$4.5 bil­lion, build­ing out its of­fer to high-tech man­u­fac­tur­ing in­dus­tries. Ore­gon-based Men­tor em­ploys more than 5700 peo­ple and pro­duces soft­ware used to de­sign elec­tron­ics prod­ucts, es­pe­cially in­te­grated cir­cuits.

The deal would “com­ple­ment our strong of­fer­ing in me­chan­ics and soft­ware with de­sign, test and sim­u­la­tion of elec­tri­cal and elec­tronic sys­tems”, Siemens board mem­ber Klaus Helm­rich said.

Siemens said its of­fer of $37.25 per share in cash – a 21 per­cent pre­mium on Men­tor’s clos­ing price – had been ac­cepted by the US firm’s board, but still needed to be ap­proved by share­hold­ers. The Ger­man firm said it would pro­vide more de­tails at a press con­fer­ence sched­uled for later yes­ter­day. –

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