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Siemens Digital Industries Software Press Release Page
FOR RELEASE Thursday, May 27 2004
PLANO,Texas --UGS, a leading global provider of product lifecycle management (PLM) software and services, today announced the closing of its acquisition by a private equity group of Bain Capital, Silver Lake Partners and Warburg Pincus. The company also launched operations as an independent software business under a new corporate brand -- UGS.
The companies announced on March 14 a definitive agreement with EDS to purchase UGS for $2.05 billion in cash. The transaction represents the largest private equity investment ever made in a technology company.
Today is a watershed day for UGS and our clients as we move forward as an independent software company in partnership with our new sponsors, said UGS Chairman, CEO and President Tony Affuso, who will chair the new company’s board. This transaction represents not only an endorsement of UGS’ strategy and leadership position, but also of the PLM industry as a whole. Under the UGS brand, which we believe best leverages our company’s equity as a strong and familiar brand with our clients in the PLM space, we believe we are ideally positioned for continued long-term growth.
In conjunction with the closing of the private equity transaction, UGS also today announced the launch of its new independent Web site, www.ugs.com.
Leadership in a Growing Market
UGS delivers integrated technology and services supporting the entire lifecycle of a product from concept and development to distribution and service. The global market for PLM software and services is expected to grow by a compound annual growth rate of 8 percent through 2007 to more than US$9.2 billion, according to Daratech. Through 2007, Daratech expects the product data management and collaboration segment of the PLM market, which UGS leads on the strength of its Teamcenter portfolio, to grow 16 percent, compounded annually.
In the first quarter of 2004, UGS reported 14.8 percent revenue growth and 10.3 percent growth in operating profit over the same period a year earlier. UGS’ first quarter ’04 performance marked the third consecutive quarter of strong revenue and operating profit growth as compared to the same period a year earlier.
For the last 12 months ending March 31, 2004, UGS reported revenue of US$927 million, adjusted EBITDA of US$215 million and net income of US$106 million.
UGS is a leading global provider of product lifecycle management (PLM) software and services with more than 3 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.
Note: Teamcenter is a registered trademark of UGS Corp. or its subsidiaries in theUnited Statesand in other countries. All other trademarks, registered trademarks or service marks belong to their respective holders.