It's official: Siemens just announced it was buying the semiconductor-design software company Mentor Graphics for $37.25 a share in cash, or about $4 billion.
That's a 21% premium to Mentor's closing price Friday, and it values the Oregon-based company at about $4.5 billion, including debt.
"Siemens is acquiring Mentor as part of its Vision 2020 concept to be the Benchmark for the New Industrial Age," Siemens CEO Joe Kaeser said in a statement. "It's a perfect portfolio fit to further expand our digital leadership and set the pace in the industry."
Kaesar has made it a priority to sell off core units to boost profitability since taking control in 2013.