UGS Engages With Banks to Amend Term Loan Facility; Proceeds Along With Cash on Hand will Complete the Purchase of Outstanding Tecnomatix Shares
UGS, a leading global provider of product lifecycle management (PLM) software and services, today announced that in conjunction with the Tecnomatix acquisition, announced Jan. 4, 2005, it has engaged with its banks to amend and restate the company's existing US$625 million Revolving and Term Loan Facilities to provide for an additional US$225 million Term Loan Borrowings. Proceeds from the Term Loan along with cash on hand will be used to purchase all outstanding shares of Tecnomatix.
The acquisition represents another strategic milestone for UGS as it
continues to expand its suite of software solutions in order to provide value
across a product's entire lifecycle.
Read More...
UGS, a leading global provider of product lifecycle management (PLM) software and services, today announced that in conjunction with the Tecnomatix acquisition, announced Jan. 4, 2005, it has engaged with its banks to amend and restate the company's existing US$625 million Revolving and Term Loan Facilities to provide for an additional US$225 million Term Loan Borrowings. Proceeds from the Term Loan along with cash on hand will be used to purchase all outstanding shares of Tecnomatix.
The acquisition represents another strategic milestone for UGS as it
continues to expand its suite of software solutions in order to provide value
across a product's entire lifecycle.
Read More...
posted by Mohd Amin | 8:34 AM
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