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January 2016

Siemens to Acquire Simulation Software Supplier CD-adapco


siemens and cd-adapco have entered into a stock purchase agreement for the acquisition of cd-adapco by siemens. the purchase price is $970 million. cd-adapco is a global engineering simulation company with software solutions covering a wide range of engineering disciplines, including fluid dynamics (cfd), solid mechanics (csm), heat transfer, particle dynamics, reactant flow, electrochemistry, acoustics, and rheology. last fiscal year, cd-adapco had over 900 employees and revenue of close to $200 million with software-typical double-digit margins. on average, cd-adapco increased its revenue at constant currencies by more than 12 percent annually over the past three fiscal years. siemens expects this business to continue to experience strong growth in the future.

cd-adapco is a global engineering simulation company with a unique vision for multidisciplinary design exploration (mdx). engineering simulation provides the most reliable flow of information into the design process, which drives innovation and lowers product development costs. cd-adapco simulation tools, led by the flagship product star-ccm+, allow engineers to discover better designs, faster. cd-adapco now has over 3,200 customers worldwide. its software is currently used by 14 of the 15 largest carmakers, by all of the top ten suppliers to the aerospace industry, and by nine of the ten largest manufacturers in the energy and marine sectors.

cd-adapco is headquartered in melville, new york (usa), and has 40 locations worldwide. siemens expects synergy impact on ebit to be in the mid-double-digit million range within five years of closing, mainly from revenue. closing of the transaction is subject to customary conditions and is expected in the second half of fiscal year 2016.

cd-adapco will be integrated into the plm software business of siemens' digital factory (df) division. df is the industry leader in automation technology and a leading provider of product lifecycle management (plm) software.

according to arc research director david humphrey: "driven by long-term trend toward digitalization, industry software is the fastest growing segment of automation, both in the process and discrete industries. with a clear strategy of carefully selected acquisitions, siemens has been slowly and methodically added to its portfolio of industry software in the last decade to create the most comprehensive offering of software solutions on the market.  with the acquisition of cd-adapco, siemens is now expanding its compentencies to include the simulation of complex engineering tasks, from fluid dynamics to materials engineering to chemical reactions to machine design. 

"with revenue of $200 million and 900 employees, this  is no small acquisition.  cd-adapco itself has grown in part through strategic acquistions in recent years.  between the portfolios of siemens and cd-adapco lies a surprisingly high number of touch points and potential synergies in cad/cam/cae, apc, simulation and automation.  merging cd-adapco's solutions into siemens' portfolio adds a new dimension of scientific engineering simulation tools with the potential to greatly enhance siemens' plm portfolio."

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