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Siemens Nears Deal to Buy UGS for $3.5 Billion: Reuters

Siemens is close to a deal to buy business software maker UGS for about $3.5 billion, including debt, two sources familiar with the situation said on Wednesday.

Plano, Texas-based UGS is owned by three private equity firms - Bain Capital, Silver Lake Partners and Warburg Pincus.

The private equity firms bought UGS from technology services provider Electronic Data Systems in March 2004 for $2.05 billion.

Siemens declined to comment. UGS was not immediately available for comment.