In October 2001, Unigraphics Solutions (NYSE:UGS) acquired Engineering Animation (NASDAQ:EAII) for $13.75 a share cash. The total purchase price is $205 million. The acquisition price is a 24.3% premium to EAI’s last closing price and a 33.3% premium to its average closing price for the past six months. The acquisition is valued at 2.7x trailing 12 month revenues.
EAI is a leader in Internet-enabled visual process management, collaboration, analysis and communications solutions for extended manufacturing enterprises. Unigraphics Solutions is a leading provider of collaborative product development software and services.
Colonnade Advisors and Goldman Sachs served as financial advisor to EAI. Morgan Stanley advised Unigraphics.