March 14, 2004
Willkie client Warburg Pincus LLC and buyout firms Bain Capital LLC and Silver Lake Partners LP announced that they reached an agreement to purchase design software business UGS PLM Solutions from Plano, TX.-based Electronic Data Systems Corp. for $2.05 billion cash.
On March 14, Willkie client Warburg Pincus LLC and buyout firms Bain Capital LLC and Silver Lake Partners LP announced that they reached an agreement to purchase design software business UGS PLM Solutions from Plano, TX.-based Electronic Data Systems Corp. for $2.05 billion cash. The deal, which concludes a hotly contested auction, is reported to be the largest private equity investment in a technology company. The three private equity firms are investing equal shares in UGS, which EDS is selling as part of a plan to eliminate debt and allow it to concentrate fully on information technology and business process outsourcing. The March 15 edition of The Daily Deal reports that Willkie partners Steven Gartner and Gordon Caplan advised Warburg Pincus on the deal.