German Siemens announced closing of its acquisition of American Mentor Graphics Corporation (Mentor), which cost USD 4,5 billion.

President and CEO of Siemens PLM Software Tony Hemmelgarn stated that “they were proud to welcome the outstanding Mentor team and all of their excellent technology into Siemens”.

The acquisition of Mentor Graphics will contribute to the implementation of Siemens’s strategy, which includes expansion of opportunities for software support in industrial sector until 2020.

“The entire suite of EDA offerings from Mentor is critically important to our vision of growing our customer base and delivering the world's most comprehensive portfolio of software solutions to build the Digital Enterprise,” Tony Hemmelgarn said.

“Joining the Siemens family presents tremendous opportunity not only for the Mentor Graphics team, but also for existing, new and future customers,” CEO of Mentor Graphics Walden Rhines said.

Mentor Graphics, which has also had a representation in Armenia since 2008, is a leading company, which offers electronics and software solutions. It offers professional consultation and provides services to the world’s most renowned companies in the sphere of electronics and semiconductors.