Siemens 2013 Annual Report Download - page 274

92 A. To our Shareholders 117 B. Corporate Governance 155 C. Combined Management Report
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business. The preliminary purchase price amounts to €,
million (including € million cash acquired) of which €
million were paid to the Invensys Pension Trust. The purchase
price is preliminary mainly because it is subject to final agree-
ment on the closing accounts. The following figures resulting
from the preliminary purchase price allocation reflect the
amounts recognized as of the acquisition date for each major
class of assets acquired and liabilities assumed: Intangible as-
sets € million, Inventories € million, Receivables €
million, Deferred income tax assets € million, Liabilities
€ million and Deferred income tax liabilities € million.
Intangible assets mainly relate to customer relationships of
€ million with a useful life of  years and technology of
€ million with a useful life of  years. Provisional goodwill
of €, million comprises intangible assets that are not sepa-
rable such as employee know-how and expected synergy ef-
fects. Including effects from purchase accounting and integra-
tion costs, the acquired business contributed revenues of €
million and a net loss of € million to Siemens for the period
from acquisition to September , . If the acquired busi-
ness had been included as of October , , the impact on
consolidated revenues and consolidated net income for the
twelve months ended September ,  would have been
€ million and €() million, respectively.
At the beginning of January , Siemens acquired all of the
shares in LMS International NV, Belgium, a leading provider of
mechatronic simulation solutions, which is being integrated in
the Industry Sector’s Industry Automation Division. With the
acquisition, Siemens expanded and complemented the Indus-
try Sector’s product lifecycle management portfolio with
mechatronic simulation and testing software. The preliminary
purchase price amounts to € million (including € million
cash acquired). The following figures represent the prelimi-
nary purchase price allocation and show the amounts recog-
nized as of the acquisition date for each major class of assets
acquired and liabilities assumed: Intangible assets € mil-
lion, Property, plant and equipment € million, Inventories
€ million, Receivables € million, Liabilities € million
and Deferred income tax liabilities € million. Intangible as-
sets mainly relate to technology of € million with a useful
life of seven to eight years and customer relationships of €
million with a useful life of  to  years. Provisional goodwill
of € million comprises intangible assets that are not sepa-
rable such as employee know-how and expected synergy ef-
fects. Including effects from purchase accounting and integra-
tion costs, the acquired business contributed revenues of €
million and a net loss of € million to Siemens for the period
from acquisition to September , . If the acquired busi-
ness had been included as of October , , the impact on
consolidated revenues and consolidated net income for the
twelve months ended September ,  would have been
€ million and €() million, respectively.
ab) Acquisitions in fiscal 
At the beginning of May , Siemens acquired all of the
shares of five entities constituting the Connectors and Mea-
surements division of Expro Holdings UK  Ltd. The acquired
business engineers and manufactures subsea components
such as cable connectors, sensors and measuring devices.
With this acquisition, Siemens expanded its portfolio in the at-
tractive future market for subsea power grids. The aggregate
consideration amounts to € million (including € million
cash acquired). The acquired business is integrated into Ener-
gy Sector’s Oil & Gas Division. The following figures represent
the final purchase price allocation and show the amounts rec-
ognized as of the acquisition date for each major class of as-
sets acquired and liabilities assumed: Intangible assets €
million, Property, plant and equipment € million, Inventories
€ million, Receivables € million, Liabilities € million and
Deferred income tax liabilities € million. Intangible assets
mainly relate to customer relationships of € million with a
useful life of nine to  years, technology of € million with a
useful life of eight to twelve years and order backlog of €
million with a useful life of two years. Goodwill of € million
comprises intangible assets that are not separable such as em-
ployee know-how and expected synergy effects. Including
effects from purchase accounting and integration costs, the
acquired business contributed revenues of € million and
a net income of € million to Siemens for the period from
acquisition to September , . If the acquired business
had been included as of October , , the impact on consoli-
dated revenues and consolidated net income for the twelve
months ended September ,  would have been € mil-
lion and € million, respectively.
Furthermore, in fiscal , Siemens completed the acquisition
of a number of entities, presented in continuing operations,
which are not significant individually including RuggedCom
Inc., a provider of robust, industrial-quality Ethernet communi-
cation products and network solutions at the Industry Sector’s
Industry Automation Division, the NEM B.V. business, a spe-
cialist in heat recovery steam generators for combined-cycle
(gas and steam) power plants at Energy Sector’s Fossil Power
Generation Division and eMeter Corporation, a meter data
management specialist at Infrastructure & Cities Sector’s Smart
Grid Division. The aggregate consideration (including cash
acquired) of all of these acquisitions amounts to € million.