UGS PLM Software to Operate as a Global Division of Siemens Automation and Drives Affuso Named Chairman and CEO; Brandis President; Bichara CFO of Leading Provider of Product Lifecycle Management (PLM) Software and Services.
UGS Corp., a leading global provider of product lifecycle management (PLM) software and services, today announced the close of its acquisition by Siemens AG effective May 4. As a result, the business will go to market as UGS PLM Software, a global division of the Siemens Automation and Drives (A&D) Group.
The companies announced on January 25 a definitive agreement for Siemens AG to acquire UGS for US$3.5 billion, including assumption of existing debt. Most recently, the European Commission announced on April 27 that it had approved the planned acquisition of UGS by Siemens AG, thus completing the standard anti-trust reviews of the transaction.
“This is a great day for UGS PLM Software on the heels of an outstanding first quarter. While we are still finalizing our numbers, we had a very strong quarter in Q1, coming in near 11 percent on total revenue growth and 16 percent on software license growth,” said Tony Affuso, chairman and CEO of UGS PLM Software. “Now the acquisition enables the company and its people to leverage a powerful and respected global organization like Siemens in strengthening our technology leadership in PLM,” Affuso said. “The acquisition also clearly sets a new agenda for the entire PLM industry. Customers across manufacturing and process industries will now able to benefit from the integration of the physical world, through Siemens’ leading automation design and production technology, and the virtual world, through UGS PLM Software’s leading factory design, product design and digital collaboration software.”
