Siemens is to acquire US software company CD-adapco for $970m.
CD-adapco is a global engineering simulation company with software solutions covering areas including fluid dynamics, heat transfer, particle dynamics, electrochemistry and acoustics.
The New York-headquartered company has more than 900 staff and last year had a revenue of almost $200m.
Siemens board member Klaus Helmrich said the deal would see the German engineering giant “sharpening its focus on growth in digital business and expanding its portfolio in the area of industry software”.
“Simulation software is key to enabling customers to bring better products to the market faster and at less cost. With CD-adapco, we’re acquiring an established technology leader that will allow us to supplement our world-class industry software portfolio and deliver on our strategy to further expand our digital enterprise portfolio.”
CD-adapco president Sharron MacDonald said the acquisition was a good deal “for both the employees and the customers of CD-adapco. The opportunities that come with the acquisition by Siemens are endless.”