Siemens Closes $4.5 Bln Acquisition Of Mentor Graphics

(RTTNews) - German conglomerate Siemens AG (SIEGY, SMAWF) closed its acquisition of Design automation and industrial software provider Mentor Graphics Corp. (MENT).

In a statement on Thursday, Mentor Graphics said it is now part of Siemens' product lifecycle management or PLM software business.

With the acquisition, Siemens sets out to underscore the significant customer value it envisions for both Electronic Systems and Integrated Circuit or IC design tools.

It was in November last year that Siemens agreed to buy Mentor for $37.25 per share in cash, which represents an enterprise value of $4.5 billion. For Siemens, the deal was part of its Vision 2020 to shape Digital Industrial Enterprise, and extends its Digital Enterprise Software portfolio.

Tony Hemmelgarn, President and CEO, Siemens PLM Software, said, "The entire suite of EDA offerings from Mentor are critically important to our vision of growing our customer base and delivering the world's most comprehensive portfolio of software solutions to build the Digital Enterprise."