Siemens has expanded its portfolio of industrial software, acquiring for over $970 m. CD-adapco, a software company that is leading in the Computational Fluid Dynamics (CFD) simulation.
The CD-adapco is a global simulation software company for engineering equipment with software solutions that covers a wide range of engineering disciplines such as computational fluid dynamics (CFD), the Mechanics of Solids (CSM), heat transfer, dynamics of particles, the flow of reactants, the electrochemistry, aural and rheology. During last year’s fiscal year, CD-adapco had over 900 employees and revenues were close to $200 million. On average, the CD-adapco has increased its revenues at a constant exchange rate more than 12% annually over the past three financial years. Siemens expects that the company will continue to have strong growth in the future.
“As part of our corporate vision” Vision 2020 “, Siemens acquires CD-adapco and focuses on the development of digital business, and expand its portfolio in the field of industrial software. The simulation software is an important factor, allowing customers to build better products for the market, faster and at less cost. With CD-adapco we acquire an established, leading technology company, that will allow us to complement our world class portfolio of industrial software and reinforce our strategy to further expand our digital business, “said Klaus Helmrich, Member of the Board Council of Siemens.
CD-adapco is headquartered in Melville, NY, USA and has 40 offices worldwide.