Siemens AG agrees takeover of Vistagy

AP News
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Posted: Nov 09, 2011 5:47 AM
Siemens AG agrees takeover of Vistagy

Germany's Siemens AG says it is taking over Vistagy, Inc., a U.S.-based maker of computer-assisted design software.

Munich-based Siemens said Wednesday that an agreement was signed earlier this month and the two sides agreed not to reveal the price of the deal.

Privately held Vistagy, based in Waltham, Massachusetts, makes design software that helps engineers work with carbon-fiber composites _ light-weight materials that are finding increasing use in airplanes, cars and wind turbines. The company has 80 employees.

Siemens says the deal will allow its industry automation division to enhance its offerings of industrial software.