Jan 10, 2017
Nov 15, 2016
Siemens to Acquire Mentor Graphics, Having an Armenian Representation Since 2008
German tech giant Siemens acquires Mentor Graphics announcing it in a joint press release. Particularly, the latter states, “Siemens is further building its Vision 2020 to shape Digital Industrial Enterprise by expanding its unique portfolio for industrial software. Siemens and Mentor Graphics (NASDAQ: MENT) (“Mentor”) today announced that they have entered into a merger agreement under which Siemens will acquire Mentor for $37.25 per share in cash, which represents an enterprise value of $4.5 billion.”
Mentor Graphics has had a representation in Armenia since 2008. It was founded in 1981. The company currently provides a variety of services including electronic design automation, embedded systems development, and a range of electrical systems and tools.
“Combining Mentor’s technology leadership and deep customer relationships with Siemens’ global scale and resources will better enable us to serve the growing needs of our customers, and unlock additional significant opportunities for our employees,” said Walden C. Rhines, chairman and CEO of Mentor.
In his turn, Klaus Helmrich, member of the Managing Board of Siemens, noted, “By adding Mentor’s electronic design automation solutions and talented experts to our team, we’re greatly enhancing our core competencies for product design that creates a very precise digital twin of any smart product and production line. ”
As the press release adds, "this acquisition decisively extends Siemens' leading Digital Enterprise Software portfolio with Mentor’s well established electronics IC and systems design, simulation and manufacturing solutions".