© bakhtiarzein dreamstime.com General | January 28, 2016
Siemens to buy simulation software supplier CD-adapco for close to $1 billion
Siemens and CD-adapco have entered into a stock purchase agreement for the acquisition of CD-adapco by Siemens.
The purchase price is USD 970 million. Cdadapco is an engineering simulation company with software solutions covering a range of engineering disciplines including Fluid Dynamics (CFD), Solid Mechanics (CSM), heat transfer, particle dynamics, reactant flow, electrochemistry, acoustics and rheology. Last fiscal year, CD-adapco had over 900 employees and revenue of close to USD 200 million with software-typical double digit margins. “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. Simulation software is key to enabling customers to bring better products to the market faster and at less cost. With CD-adapco, 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,” said Klaus Helmrich, member of the Managing Board of Siemens.