January 29, 2007
On January 25, it was announced that Munich-based Siemens AG has entered a $3.5 billion agreement to acquire U.S. software group UGS Corp. from Willkie client Warburg Pincus and its co-owners Bain Capital LLC and Silver Lake Partners. Siemens will pay $2.1 billion in cash and absorb $1.4 billion in debt to buy Plano, Texas-based UGS, a worldwide leading provider of Product Lifecycle Management (PLM) software and services. UGS has a global workforce of 7,300 and more than 46,000 customers in 62 countries. The activities of UGS are to be assigned to the Siemens Automation and Drives Group, which will become the first supplier for the manufacturing industries to provide an end-to-end software and hardware portfolio encompassing the complete lifecycle of products and production facilities. The deal was handled by partner Gordon Caplan.