“With Mentor, we’re acquiring an established technology leader with a talented employee base that will allow us to supplement our world-class industrial software portfolio,” Said Klaus Helmrich, member of the managing board of Siemens. “It will complement our strong offering in mechanics and software with design, test and simulation of electrical and electronic systems.”
Mentor is headquartered in Wilsonville, Oregon, and generate around $1.2bn of revenue. Siemens expects these margins to continue and contribute to the Product Lifecycle Management software business of Siemens Digital Factory Division, which Mentor will join.
Walden Rhines, chairman and CEO of Mentor, added. “Siemens’ resources and additional investment will allow us to innovate even faster and accelerate our vision of creating top-to-bottom automated design solutions for electronic systems.”
Mentor Graphics has been under pressure since activist hedge fund Elliott Management Corp reported an 8.1% stake in the company in September and said its shares were ‘deeply undervalued’.
Elliott says it supports the deal and sees it as ‘great outcome’ for Mentor’s shareholders and customers.
