November 14, 2016 by Manufacturing AUTOMATION
Nov. 14, 2016 – Siemens says it is expanding its digital industrial leadership with its acquisition of Mentor Graphics for $37.25 per share in cash, which represents an enterprise value of $4.5 billion.
“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,” added Klaus Helmrich, member of the Managing Board of Siemens.
“The combination provides mechanical, thermal, electronic and embedded software tools which will allow Siemens’ customers to further accelerate their innovation, drive production efficiencies and optimize the operation of their products in the field. Now, 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,” according to a statement from Siemens.
Headquartered in Wilsonville, Ore., Mentor is expected to “contribute significantly” to the Product Lifecycle Management (PLM) software business of Siemens Digital Factory Division. Mentor serves a diverse customer base of marquee systems companies and IC/semiconductors companies with more than 14,000 global accounts across communications, computer, consumer electronics, semiconductor, networking, aerospace, multimedia, and transportation industries.
“Combining Mentor’s technology leadership and deep customer relationships with Siemens’ global scale and resources will better enable us to serve the growing needs of our customers, and unlock additional significant opportunities for our employees,” said Walden C. Rhines, chairman and CEO of Mentor. “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.”