Siemens will acquire CD-adapco shares for $970 million

It is reported that Siemens and CD-adapco have reached an agreement, Siemens will acquire CD-adapco shares, the purchase price of 970 million US dollars.
Siemens will acquire CD-adapco shares for $970 million
CD-adapco is a software solutions simulation engineering company with operations in many different engineering disciplines such as fluid mechanics, solid mechanics, heat transfer, particle dynamics, reaction flow, electrochemistry, acoustics and rheology. In the last fiscal year, CD-adapco, with 900 employees, had a profit of nearly $200 million. At constant exchange rates, CD-adapco has typically increased its revenue by 12% annually over the past three fiscal years. Siemens expects this business to grow strongly in the future.
Klaus Helmrich, a board member of Siemens, stated, “As part of the Vision 2020, Siemens is acquiring CD-adapco and will be more committed to digital business growth and expand its product portfolio in industrial software. Simulation software is faster and lower. The key to cost-effective products to market users. After acquiring CD-adapco, our acquisition of an established technology leader will help us to complement our world-class industrial software and further fulfill our expansion of our digital business portfolio Strategy."
It is understood that CD-adapco has 3,200 corporate users around the world. Its software has been adopted by 14 of the world's 15 largest auto companies, one of the top 10 aerospace industry suppliers and nine of the top 10 energy and marine manufacturers.
CD-adapco is headquartered in Melville, New York, USA, and has 40 offices around the world. Siemens expects a synergistic impact on pre-tax profit to be in the five years from the completion of the acquisition, mainly from sales revenue of 50 million to 60 million US dollars. It is expected that the acquisition will be completed in the second half of fiscal 2016.

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