shareholders. Auditors sanctioned The SEC also sanctioned the KPMG audit partners responsible for independent audits of company financials at the time. Philip Present and William Scanlon were sanctioned by the SEC, with restrictions on their accounting practice and ability to represent public companies imposed by SEC action. " Present and Scanlon were also aware that audit differences, representing 22% of the net income originally reported by SDRC for 1993, were not reflected in SDRC's 1993 financial statements" Acquisition SDRC was purchased by EDS in 2001 for a reported $950 million. SDRC was merged with EDS subsidiary UGS Corp. The new combined company operated as EDS PLM Solutions from 2001 through 2004. EDS sold off its CAD/PLM software business to a group of private equity firms in 2004. The new UGS Corp. operated as an independent, privately held company before being purchased by Siemens AG in 2007. Products I-DEAS was SDRC's computer-aided design software package. SDRC was bought by Electronic Data Systems in 2001. Unigraphics and I-DEAS were merged into one product, NX. I-DEAS is still published by Siemens Digital Industries Software (formerly known as UGS Corp). Metaphase was SDRC's product lifecycle management product. It was designed and best suited for managing CAD data. Metaphase is now published under the Teamcenter Enterprise name by Siemens Digital Industries Software. References Software companies established in 1967 Defunct software companies of the United States Software companies disestablished in 2001 1967 establishments in Ohio 2001 disestablishments in Ohio 2001 mergers and acquisitions