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Siemens and CD-adapco have reached an agreement to buy the shares of CD-adapco by Siemens. The purchase price is $970 million (USD).
CD-adapco is an international company specializing in simulation software. Its numerical simulation solutions cover a wide range of areas: fluid mechanics (CFD), solid mechanics (CSM), thermal transfer, particle dynamics, reagent flows, electrochemistry, acoustics and rheology. In the last fiscal year, CD-adapco had a workforce of more than 900 employees with a turnover of approximately $200 million (USD) and double-digit operating margins, similar to the profitability typically displayed by the major players in the software engineering sector. Over the last three years, CD-adapco's sales have increased by an average of more than 12% per annum at constant exchange rates. Siemens expects the business to continue its continued sustained growth.
"The acquisition of CD-adapco by Siemens is part of the Vision 2020 strategy. We intend to continue our growth in the field of digitalization and enrich our portfolio of industrial software. Simulation software is essential to accelerate product marketing while improving quality and reducing costs. The acquisition of an already well-established technology leader in the market, as is the case with CD-adapco, allows us to complement our industrial software portfolio and is part of our strategy to expand the company's digital portfolio," said Klaus Helmrich, a member of Siemens AG's executive board.
CD-adapco is an international company specializing in digital simulation software, with a unique approach to multidisciplinary exploration (MDX). In terms of design, digital simulation provides an extremely reliable flow of information, which helps stimulate innovation and reduce product development costs. CD-adapco simulation tools, including the flagship of its offering, the STAR-CCM simulation software, enable engineers to improve design quality and reduce delays. To date, CD-adapco has more than 3,200 customers worldwide. Its software is used by 14 of the top 15 automakers, the top 10 oems in the aerospace industry, and 9 of the top 10 players operating in the energy and shipbuilding sectors.
"I am delighted both for the employees and for the customers of CD-adapco. The acquisition of our company by Siemens paves the way for an infinite number of opportunities. With the integration of leading technologies, whether for engineering or production, we are realizing the vision of the company's founders and implementing a development strategy that will open up digital simulation to an ever-increasing number of products and companies," said Sharron MacDonald, CEO of CD-adapco.
CD-adapco will be integrated into the PLM Software business of Siemens' Digital Factory (DF) division.
Find out more: www.cd-adapco.com
