Siemens acquires Mentor Graphics for about $4 billion

By Portia Crowe, for Business Insider

Nov 14, 2016

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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.

Read the full story and press release.