Siemens snaps up US software firm for $4.5b

AFP,BERLIN: German industrial giant Siemens yesterday said it would buy US software firm Mentor Graphics for $4.5 billion, building out its offer to high-tech manufacturing industries.
Oregon-based Mentor employs more than 5,700 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.
In a statement, Siemens said its offer of $37.25 per share in cash—a 21-per cent premium on Mentor’s Friday closing price—had been accepted by the US firm’s board, but still needed to be approved by shareholders.

 

 

Siemens snaps up US software firm for $4.5b

AFP,BERLIN: German industrial giant Siemens yesterday said it would buy US software firm Mentor Graphics for $4.5 billion, building out its offer to high-tech manufacturing industries. Oregon-based Mentor employs more than 5,700 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. In a statement, Siemens said its offer of $37.25 per share in casha 21-per cent premium on Mentors Friday closing pricehad been accepted by the US firms board, but still needed to be approved by shareholders.