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| European Commission approves acquisition of UGS by Siemens The European Commission has approved unconditionally the acquisition of UGS Corp. by Siemens AG. As a result, the US software company can now be integrated as 'UGS PLM Software' division into the Siemens Automation and Drives (A&D) Group. Siemens expects to close the acquisition by early May. The US antitrust approval by the Federal Trade Commission was already issued in February 2007. The total purchase price agreed with the previous owner of UGS Corp., Bain Capital, Silver Lake Partners und Warburg Pincus, amounts to USD 3.5 billion including assumption of existing debt. write your comments about the article :: © 2007 Construction News :: home page |