( ESNUG 579 Item 1 ) ---------------------------------------------- [12/14/17]
Subject: Sawicki tells what it's like for Mentor to be acquired by Siemens
DAC'17 Troublemakers Panel in Austin, TX
Cooley: So, Joe...
Sawicki: Guten Tag, Johan. Wie gehts?
Cooley: How's your German?
Sawicki: You just got my German.
Cooley: Why are you not wearing lederhosen?
Sawicki: You know it's kind of funny, while Siemens is emphatically German;
the people that bought us aren't. You have to learn Texan, which
I'm probably as bad as I am at German.
But Siemens PLM is in Plano, Texas. A lot of the execs are up in
Detroit, and Germany can be thought of as the investor. So, I
don't have to wear lederhosen. But I do have to say "Wie gehts"
occasionally.
Cooley: Joe do you know how many times a week I hear about Calibre being
sold off to either Cadence or Synopsys or Ansys?
Sawicki: Hopefully less often than I do. You know it's funny, every time
you end up with an acquisition conversation, and this isn't the
first time we've had this one, I always end up saying the same
thing about "like I don't want to go to jail", and "I don't make
comments".
One of the things that I wanted to talk about this time, is that
there's a reason why you don't comment on this stuff. No matter
how stupid the rumor is, and I mean no matter how stupid the
rumor is ...
Cooley: Like what? What's a stupid rumor?
Sawicki: Once again John, you don't comment on how stupid rumors are
stupid, because then at some point in time someone says something
that you know something about, and if you don't call it stupid,
you're signaling -- and that's a bad thing to do.
All I can say, is in every meeting I've had with Siemens, they
are ecstatic at the fact that they got not only some really cool
properties in this system space where they'll be synergies where
we can connect in -- things like the cable management, really
significant stuff around automotive networking into a PLM managing
blah, blah, blah, blah, blah, ...
... they're also really happy to also be in a new market in the
IC space, because it brings them a whole new set of customer
relationships. They can bring in some tools they have that are
more applicable in the business side of things. There is no
desire that I've seen, in any person in Siemens, to dump Mentor
on the street.
Cooley: Has there been anything they want to put on the chopping block
just because they just don't want to do it anymore?
Sawicki: At Siemens, when I have conversations with my new bosses, and
I start talking about IC's: I guarantee you they understand the
pronouns. I guarantee they understand the articles. And maybe
the occasional adjectives.
But for the most part the Siemens attitude is: "You Mentor guys
understand IC. Tell us what you want. Tell us what you need.
Tell us how we can help." It's not: "we're going to come in
and tell you how to manage this business."
So, it's been great. It has not been here come the Germans, here
come the rules, here comes how things are going to get chopped,
and here comes this. It's "how can we help?, what do you need?,
how can we make your business work better than it's been
working?"
Cooley: Oh wow.
Sawicki: It's been pleasant.
Cooley: What would you change about the company or what do you think
it will be changing right now?
Sawicki: For right now, legal entities merging on this scale is a
significant aspect. These are large corporate entities. You
want to do them right. You want to make sure you maintain all
the aspects of tax basis and everything else. I don't foresee a
lot happening in this short term.
I can tell you that the sales and products synergies on the
system side are significant. That's why Siemens was most
interested in Mentor because we really have more of a balance
between IC and systems than any place else. I think we're
going to be doing lots of things to pool those together to
drive more sales.
The other aspects of it will happen in time as we figure out
the legal entities and do those things together. So, I know
it's better if there's drama because it's more amusing, but
there's just not any right now.
Cooley: Hmmm, okay.
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