HERZLIA, Israel, Jan. 4 -- UGS, a supplier of of product lifecycle management software and services, will buy Tecnomatix Technologies, a supplier of manufacturing operations software, in a deal valued at $227.7 million. Closing is expected to be completed by the end of the first quarter 2005.

The agreement is subject to approval by Tecnomatix shareholders and regulatory authorities.

Under the terms, Tecnomatix shareholders will receive $17 per share in cash, a premium of 39% over Tecnomatix's average closing price over the last 60 trading days.

Tecnomatix's board has unanimously approved the deal.

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