Siemens and CD-adapco have entered into a stock purchase agreement for the acquisition of CD-adapco by Siemens for US$970 million.
The US-based firm specializes in CFD simulation, but offers software covering other areas of testing and development of engines. The purchase will bolster Siemens’ PLM software department as the company seeks to build up its expertise in the area.
“As part of its Vision 2020, Siemens is acquiring CD-adapco and sharpening its focus on growth in digital business and expanding its portfolio in the area of industry software,” said Klaus Helmrich, member of the managing board of Siemens.
“Simulation software is key to enabling customers to bring better products to the market faster and at less cost. We’re acquiring an established technology leader that will allow us to supplement our world-class industry software portfolio and deliver on our strategy to further expand our digital enterprise portfolio.”
CD-adapco was initially started in 1980 by Steve MacDonald, Bill Wheeler, and Marc Whittlesey and had remained in private hands until the announcement of the Siemens sale. It now has 900 employees across 40 offices and around 3,200 customers worldwide.
January 27, 2016