UGS PLM Solutions plans to shorten its name to UGS -- much to the relief of CAD journalists everywhere.
The soon-to-be-on-its-own company reported a 14.8% revenue growth over a year ago -- much better results than still-its-parent EDS.
Update
To help finance the $2-billion buyout from EDS, UGS is borrowing money and offering US$550 million in notes (due in 2012) -- in addition to the cash equity investment from Bain Capital, Silver Lake Partners and Warburg Pincus. The notes will be priced in mid-May.
Earlier this year, the three investment firms formed a company called BSW Holdings (first letter from each company's name) to buy the UGS PLM Solutions division from EDS.
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