UGS announces its acquisition by Siemens AG is completed. The formerly independent, privately-owned CAD company is now called "UGS PLM Software" and is a division of Siemens' Automation and Drives Group. The pricetag was US$3.5 billion. In its Q1, UGS grew revenue by 11%.
Tony Affuso keeps his title of ceo, but Siemens moves two of its own to Texas:
* Tilo Brandis becomes president of UGS; he is the former head of Siemens’ Electronics Assembly Systems division.
* Peter Bichara becomes executive vp and cfo; he is the former vp of Mergers and Acquisitions.
Affuso explains why the Siemens and UGS are a good match:
Customers across manufacturing and process industries will now be able to benefit from the integration of the physical world, through Siemens’ leading automation design and production technology, and the virtual world, through UGS PLM Software’s leading factory design, product design and digital collaboration software.
The new URL is www.siemens.com/ugs officially, but it points back to ugs.com.