EDS Gets $2.05B For PLM Unit

The move, which was not unexpected, is part of a strategic realignment adopted by the outsourcing company last June, said EDS Chairman and CEO Mike Jordan in a statement.

"We said our ongoing focus will be strengthening our core information technology and business process outsourcing operations and our balance sheet," Jordan said. "This transaction supports both priorities and further enhances our competitive position."

The three firms making the purchase are Bain Capital, Silver Lake Partners and Warburg Pincus. The cash transaction is expected to close within 90 days.

UGS PLM Solutions recorded revenue of $897 million in 2003 and posted net income of $104 million for the year.

After it closes the deal, EDS said it expects to be closer to its goal of zero net debt by the end of 2004.