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Siemens Digital Industries Software Press Release Page
FOR RELEASE Wednesday, February 16, 2005
PLANO, Texas – UGS, a leading global provider of product lifecycle management (PLM) software and services, today announcedthat in conjunction with the Tecnomatix acquisition, announced Jan. 4, 2005, it has engaged with its banks to amend and restate the company’s existing US$625 million Revolving and Term Loan Facilities to provide for an additional US$225 million Term Loan Borrowings. Proceeds from the Term Loan along with cash on hand will be used to purchase all outstanding shares of Tecnomatix.
The acquisition represents another strategic milestone for UGS as it continues to expand its suite of software solutions in order to provide value across a product’s entire lifecycle. It also demonstrates the company’s continuing dedication toleadership in the high-growth sector of digital manufacturing –a PLM strategy that focuses on improving every aspect of how a company builds its products. The acquisition, subject to the receipt of required regulatory approvals, is expected to close by the end of the first quarter 2005.
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. Headquartered in Plano, Texas, 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.