Germany – The company has spent nearly a billion francs to acquire a company specializing in simulation programs.
The German industrial conglomerate Siemens announced the acquisition Monday night for $ 970 million (990.5 million francs) of the American Society CD-adapco, specializing in simulation software and employs some 900 people.
“CD-adapco and Siemens have reached an agreement for the resumption of capital CD-adapco by Siemens,” the statement said. The American company has annual sales of some 200 million and has a client base including automotive and aerospace groups.
Furthermore, Siemens announced Monday slightly raise its profit forecast for the full 2015/2016 financial year offbeat, after a jump of 42% of net profit in the first quarter. Net earnings per share are now expected for the year between 6 and 6.40 euros, against a range of 5.90 to 6.20 euros before, says in a statement, the industrial conglomerate, which announced parallel acquisition of American CD-adapco.