SDRC, UGS Merger to Create Collaboration Market Leader
CINCINNATI--May 24, 2001--SDRC , EDS , UGS| -- | Filed by Structural Dynamics Research Corporation pursuant to "Rule 14a-12" under the Securities Act of 1933 |
| -- | Subject Company: Structural Dynamics Research Corporation Commission File No.: 33-16541 |
The acquisition and subsequent merger of SDRC and UGS announced yesterday will create a new collaboration market leader with significant product development strength and expertise for bringing to market a new class of collaborative products and services.
The new entity will become a fifth line of business for EDS and provide customers of SDRC, EDS, and UGS with new innovative products to enhance their competitive advantage reflecting the strengths of the new entity, such as:
-- SDRC's market-leading Metaphase(R) product data management
solutions;
-- The combined strength of mechanical design automation (MDA)
solutions;
-- The leading position of SDRC and UGS in key vertical industry
markets, specifically aerospace and automotive;
-- A combined resource base for accelerated product development
and innovation.
"SDRC has been at the leading edge of collaboration in product design and data management since its inception," said Bill Weyand, chairman and CEO, SDRC. "At the heart of the merger is the joining together of two market-leading companies, SDRC and UGS, to create an even more powerful market force for next generation collaboration solutions. EDS, one of the world's IT leaders, will capitalize on the combined strengths and synergies of SDRC and UGS to offer customers, and our employees, long-term success by delivering world-class products and services for collaborative product management in a global environment."
"In the last 24 months, we have seen the beginning of a network-based revolution in the way products are designed, developed and manufacturer," said Dick Brown, EDS chairman and CEO. "UGS has given us a window on this change and on the emergence of product lifecycle management, where digitized information is shared instantly and globally. Now is the time to move quickly and decisively to capture opportunities in this space."
"While it is obvious that the strengths of SDRC's PDM solution will remain strategic to the merged enterprise, I-DEAS(R) customers should continue with plans and deployments in anticipation of an interoperable capability with UGS MCAD," said Tony Affuso, UGS president and CEO. "SDRC and UGS believe that together they will be able to deliver a true open, interoperable solution for product lifecycle management that allows customers to implement best-in-class solutions that match each customer's specific business requirements. Not only can we deliver on the promise of interoperability that customers have been demanding, we can take this new set of solutions to market immediately."
The acquisition has been approved by the boards of directors of each company and is subject to governmental approvals, SDRC and UGS stockholder approvals and customary closing conditions.