The Traderszone Network

Published in TZ Latest News 24 January, 2016 by The TZ Newswire Staff

Siemens to buy CD-adapco for close to $1 billion: source

Siemens’s deal with CD-adapco could be announced as early as Monday, the person said, asking not to be identified because the agreement is not yet public. Melville, New York-based CD-adapco makes computer programs used by engineers to simulate the inner workings of an engine. Since taking over Siemens as chief executive two years ago, former finance chief Joe Kaeser has set out to reshape the German company and make it more profitable and less cumbersome by selling off non-core units.