Siemens to buy Oregon-based Mentor Graphics for $4.5 billion
FRANKFURT, Germany — German industrial equipment maker Siemens AG says it has agreed to buy U.S.-based software firm Mentor Graphics Corp. for $4.5 billion, broadening Siemens digital capabilities.
The companies said in a joint statement Monday that Mentor’s board recommended shareholders approve the deal.
Siemens said it would pay $37.25 a share in cash, or 21 percent more than Mentor’s closing price on Friday.
Mentor, based in Wilsonville, Oregon just south of Portland, specializes in software used to design computer chips, technology with broad potential applications to smart and connected devices such as autonomous vehicles.