Product category:
PLM and Product Life Cycle software
News Release from: Siemens PLM Software
Edited by the Manufacturingtalk Editorial
Team on 16 October 2003
Action to Enable EDS to Leverage Key
Asset
EDS to Consider Initial Public Offering (IPO) or Private Offering of Minority Interest in PLM Solutions Subsidiary
EDS today announced it is considering an Initial Public Offering (IPO) or private offering of a minority stake in its PLM (Product Lifecycle Management) Solutions subsidiary as a strategic alternative for the business EDS PLM Solutions is a leader in PLM software and related services, with approximately 41,000 clients
This article was originally published on Manufacturingtalk on 25 Oct 2005 at 8.00am (UK)
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In 2002, PLM Solutions generated US$879 mm in revenue and US$138 mm in operating profit.
"A minority IPO or private offering in PLM Solutions would enable EDS to leverage the value of this key asset," said Michael Jordan, EDS chairman and CEO.
"By operating as a software company in a growing space, PLM Solutions will be able to focus solely on the PLM market, while in turn supporting EDS' sharpened focus on our core business." The decision to seek investors follows EDS' announcement of its strategic direction on June 18 in which it stated that the company would focus on its core IT outsourcing services business.
PLM Solutions was designated a complementary subsidiary business at that time.
"We expect this alternative would enable PLM Solutions to be more agile in the market, make decisions more quickly and more effectively leverage our roots as an independent software company on behalf of our customers," said Tony Affuso, president and CEO of EDS PLM Solutions.
"At the same time, PLM Solutions would continue to be able to leverage the support and IT services expertise of EDS.
It's a win-win scenario we are looking forward to." EDS PLM Solutions delivers integrated technology and services supporting the entire lifecycle of a product -- from concept and development to distribution and delivery.
PLM offerings digitally produce and share -- instantly and globally -- product planning, design, manufacturing and distribution information for collaboration via local networks and the Internet.
EDS expects to complete any actions that arise from its review of strategic alternatives for PLM Solutions in the first half of 2004.
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