Siebe plc to Purchase Wonderware Corp. for $375 M
Wonderware Corp. and Siebe plc (Windsor, Berkshire, U.K.) announced an agreement Feb. 24 in which Siebe will acquire Wonderware for $24 per share, or about $375 million. The offer has already been unanimously approved by Wonderware's board of directors. Siebe plc is expected to initiate a cash tender offer soon and complete the sale in April 1998.
Irvine, Calif. — Wonderware Corp. and Siebe plc (Windsor, Berkshire, U.K.) announced an agreement Feb. 24 in which Siebe will acquire Wonderware for $24 per share, or about $375 million. The offer has already been unanimously approved by Wonderware's board of directors. Siebe plc is expected to initiate a cash tender offer soon and complete the sale in April 1998. "We're excited about the opportunity this acquisition gives Siebe to further expand our Windows NT-based industrial automation software product range," says Allen Yurko, Siebe's managing director and ceo. "Acquiring Wonderware and its high growth FactorySuite software products will clearly complement our already strong software position in batch and process applications, providing Siebe with the broadest range of both UNIX and Windows NT software for the industrial automation market." Siebe plans to finance the acquisition of Wonderware with existing lines of credit. Leading subsidiaries of Siebe Control Systems include Foxboro, Barber-Colman, Triconex, and APV.
In addition, Wonderware and Moore Products (Spring House, Pa.) reaffirmed their existing alliance following Wonderware's acquisition by Siebe. "Moore and Wonderware have an effective strategic alliance based on the open standards-based integration of Wonderware technology with Moore's process control systems," says Dr. George Sarney, president and ceo of Siebe Controls Systems Division. "We want to ensure that this acquisition has not negative impact on the relationship."
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