PLANO, Texas, and HERZLIA, Israel – UGS Corp., a leading global provider of product lifecycle management (PLM) software and services, and Tecnomatix Technologies Ltd. (NASDAQ:TCNO), the leader in Manufacturing Process Management (MPM) software solutions for the automotive, electronics, aerospace and other manufacturing and processing industries, today announced that on Feb. 23, the German Federal Cartel Office approved UGS’ acquisition of all of the outstanding equity of Tecnomatix.
UGS is a leading global provider of product lifecycle management (PLM) software and services with nearly 4 million licensed seats and 42,000 clients worldwide. The company promotes openness and standardization and works collaboratively with its clients in creating enterprise solutions enabling them to transform their process of innovation and thus begin to capture the value of PLM.
About Tecnomatix Technologies Ltd.
Tecnomatix Technologies Ltd. (NASDAQ: TCNO) provides the world’s leading Manufacturing Process Management (MPM) solutions for the automotive, electronics, aerospace and other manufacturing and processing industries. Tecnomatix eMPower solutions for MPM enable the design, simulation, and execution of production processes, and provide real-time control and visibility throughout shop-floor operations. More than 5,000 companies worldwide are using eMPower solutions to reduce operating costs, accelerate product introductions, and shorten time-to-volume -- while maintaining high levels of product and process quality. With offices in over 20 countries, Tecnomatix supports such global leaders as BMW, Boeing, Comau, Ford, GM, Mazda, Philips, Schneider Electric and Volkswagen. For more information, visit www.tecnomatix.com.
The statements in this news release that are not historical statements, including statements regarding future product integration and development and the benefits of the proposed transaction, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond UGS’ and Tecnomatix’s control, which could cause actual results to differ materially from such statements, including the risks that the proposed transaction is not consummated or that UGS or Tecnomatix does not realize the expected benefits. UGS has included a discussion of other pertinent risk factors in the final offering memorandum relating to our 10% Senior Subordinated Notes, a copy of which is available from the company. In addition, for more details about the risks and uncertainties of Tecnomatix’s business, refer to the Tecnomatix’s filings with the Securities and Exchange Commission. The companies disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Note: UGS, Teamcenter and E-factory are registered trademarks of UGS Corp. or its subsidiaries in the United States and in other countries. All other trademarks, registered trademarks or service marks belong to their respective holders.