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UGS to Buy Tecnomatix for $228m |
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Written by Mike Buetow
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Tuesday, 04 January 2005 |
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HERZLIA, Israel, Jan. 4, 2005 - UGS, a supplier of of product lifecycle management software and services, will buy Tecnomatix Technologies, a
supplier of manufacturing operations software, in a deal valued at
$227.7 million. Closing is expected to be completed by the end of the
first quarter 2005.
The agreement is subject to approval by Tecnomatix shareholders and regulatory authorities.
Under the terms, Tecnomatix shareholders
will receive $17 per share in cash, a premium of 39% over Tecnomatix's
average closing price over the last 60 trading days.
Tecnomatix's board has unanimously approved the deal.
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