Siemens and CD-adapco have entered into a stock purchase agreement for the acquisition of CD-adapco by Siemens with a reported purchase price of $970 million.
CD-adapco is a global engineering simulation company with software solutions covering a wide range of engineering disciplines including Fluid Dynamics (CFD), Solid Mechanics (CSM), heat transfer, particle dynamics, reactant flow, electrochemistry, acoustics and rheology. Siemens expects this business to continue to experience strong growth in the future.
“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," said Klaus Helmrich, member of the managing board of Siemens.
"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.”
According to Siemens, CD-adapco simulation tools, led by the flagship product STAR-CCM+, allow engineers to discover better designs, faster. CD-adapco had more than 3,200 customers worldwide.
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CD-adapco CEO and President Sharron MacDonald said: “I am pleased for both the employees and the customers of CD-adapco. The opportunities that come with the acquisition by Siemens are endless. The vision of our founders will be realized in the integration of these world-class engineering and manufacturing technologies and a business strategy that will allow engineering simulation to impact more products and companies than ever before.”
CD-adapco is headquartered in Melville, New York, U.S., and has 40 locations worldwide. Closing of the transaction is subject to customary conditions and is expected in the second half of fiscal year 2016.
CD-adapco will be integrated into the PLM software business of Siemens’ Digital Factory (DF) Division.
“By adding advanced engineering simulation tools such as CFD to our portfolio and experienced experts in the field to our organization, we’re greatly enhancing our core competencies for model-based simulation that creates a very precise digital twin of the product,” said Anton Huber, CEO of the DF Division.
