Siemens acquired the simulation software supplier CD-adapco for a purchase price of $970 million, expanding its portfolio for industry software as part of its Vision 2020 strategy. CD-adapco is headquartered in Melville, New York, USA, with 40 locations worldwide, had last fiscal year over 900 employees and revenue close to $200 million with software-typical double digit margins. The company increased its revenue at constant currencies by more than 12% annually over the past three fiscal years.
Siemens now expects this business to continue with strong growth, also benefiting from increased opportunities coming from the integration of world-class engineering and manufacturing technologies. CD-adapco simulation tools, led by the flagship product Star-CCM+, has now over 3.200 customers worldwide, including 14 of the 15 larger carmakers, all the top ten suppliers to the aerospace industry and 9 of 10 largest manufacturers in energy and marine sectors. CD-adapco will be integrated into the PLM software business of Siemens’ Digital Factory (DF), and Siemens expects synergy impact on the Ebit to be in the mid-double-digit million range within five years of closing, mainly from revenue.