Siebe's wonderful deal
15 Jan 2000
Continuing on the acquisition trail, UK engineeering giant Siebe will this month buy factory automation specialist Wonderware for $24 a share in cash, or approximately $375 million.
Subsidiaries of Siebe's Control Systems division already include Foxboro and APV, and 'the acquisition of Wonderware and its high growth FactorySuite software products will clearly complement our already strong software position in batch and process applications', said Allen Yurko, Siebe's managing director and ceo.
Wonderware's latest release, FactorySuite 2000, is distributed in the UK and Ireland by Stockport-based Pantek, whose md John Bailey said: 'Both Siebe and Wonderware regard this purchase as stragetic to their long term goals and have stressed that Wonderware are being left alone to continue in the style and manner which has brought them considerable success so far.'
Pantek is independent and not part of the Siebe purchase.
