Mentor Graphics acquired by Siemens
This move, Siemens says, is part of its “Vision 2020” to shape Digital Industrial Enterprise by expanding its portfolio for industrial software. Siemens and Mentor Graphics are describing the deal as a merger agreement under which Siemens will acquire Mentor for $37.25 per share in cash, which represents an enterprise value of $4.5 billion. The offer price represents a 21% premium to Mentor’s closing price on November 11, 2016, the last trading day prior to the announcement.
Siemens comments that the acquisition extends its Digital Enterprise Software portfolio with Mentor’s electronics IC and systems design, simulation and manufacturing solutions. The combination provides mechanical, thermal, electronic and embedded software tools … “for the first time, quality, efficiency, flexibility, safety and speed can be optimized across technical domains, throughout the entire lifecycle and for the entire extended enterprise.”
“Siemens is acquiring Mentor as part of its Vision 2020 concept to be the Benchmark for the New Industrial Age. It’s a perfect portfolio fit to further expand our digital leadership and set the pace in the industry,” said Joe Kaeser, President and CEO of Siemens AG.
“With Mentor, we’re acquiring an established technology leader with a talented employee base that will allow us to supplement our world-class industrial software portfolio. It will complement our strong offering in mechanics and software with design, test and simulation of electrical and electronic systems,” said Klaus Helmrich, member of the Managing Board of Siemens.
The Mentor operation will become part of the Product Lifecycle Management (PLM) software business of Siemens’ Digital Factory (DF) Division. Mentor chairman and CEO Walden C. Rhines adds, “Siemens is an ideal partner with financial depth and stability, and their resources and additional investment will allow us to innovate even faster and accelerate our vision of creating top-to-bottom automated design solutions for electronic systems.”
“By adding Mentor’s electronic design automation solutions and talented experts to our team, we’re greatly enhancing our core competencies for product design that creates a very precise digital twin of any smart product and production line,” Siemens’ Helmrich concludes.
www.siemens.com and www.mentor.com
