Siemens to mentor Mentor Graphics in $4.5bn acquisition
German giants are excited by their own seminal move
Siemens is to acquire the design automation and industrial software business Mentor Graphics in a $4.5bn deal, including debt.
Mentor Graphics, which is headquartered in Wilsonville, Oregon, generates annual global revenues of around $1bn off the back of its integrated circuit design automation software.
Siemens reckons the acquisition will enable it to become a "unique digital industrial player" offering "mechanical, thermal, electrical, electronic and embedded software design capabilities on a single integrated platform".
This is part of the German giant's Vision 2020 strategy, with which the company intends to cut itself a thick slice of the market for industrial software. Siemens president and CEO Joe Kaeser said the acquisition was "a perfect portfolio fit to further expand our digital leadership and set the pace in the industry".
"With Mentor, we're acquiring an established technology leader with a talented employee base that will allow us to supplement our world-class industrial software portfolio," added Klaus Helmrich, a member of Siemens' Managing Board. "It will complement our strong offering in mechanics and software with design, test and simulation of electrical and electronic systems."?