A Russia-based software company named 'Pushwood' has managed to deceive the US authorities for years by claiming to be a US-based company and pushing its codes into more than 8,000 apps that were freely available on Apple and Google Play stores.

A Russia-based software company named 'Pushwood' has managed to deceive the US authorities for years by claiming to be a US-based company and pushing its codes into more than 8,000 apps that were freely available on Apple and Google Play stores. The expose made by Reuters stated that Centers for Disease Control and Prevention (CDC), the apex health body of the country and the Army used applications that carried the codes developed by the Russian company. Read more: India: Russian man arrested for hacking JEE Mains software to help students cheat After coming to know about the revelation, CDC said it had been 'deceived'. The health body added it instantly removed seven apps that were being used by the public, citing security issues. Meanwhile, US Army informed it removed an app carrying the 'Pushwood' code in March earlier this year, owing to the same concerns. Reportedly, soldiers at one of the major combat army bases had been using the app. Apart from CDC and Army, the footballing body UEFA, USA's National Rifle Association (NRA), Britain's Labour Party and consumer goods giant Unilever used apps with Pushwood code installed on it. WATCH | Gravitas: Hackers attack U.S. federal agencies × Read more: Russian hacker group launches cyberattacks on various United States airports Notably, Pushwood's website states it has more than 2.3 billion devices listed in its database. While Reuters' investigation has not established any direct or malicious intent, it certainly doesn't mean that the risk of data being leaked to the Kremlin may have reduced. Russia is the global leader in hacking and cyber-espionage and given the deterioration in US-Russia relations in the backdrop of the Ukraine conflict, such a connection cannot be easily whisked away. According to the publication, Pushwood is based in the Siberian town of Novosibirsk. However, the company allegedly managed to con its way through by claiming to be based in California, Maryland and Washington DC in different regulatory filings and on social media. The company employs around 40 people and has reported revenues in excess of $2.4 million in the previous financial year. While allegations surrounding the company gain pace, Max Konev, Pushwood's founder in an email said he had not tried to mask the company's Russian origins. "I am proud to be Russian and I would never hide this," said Konev whilst adding his company "has no connection with the Russian government of any kind." (With inputs from agencies) WATCH WION LIVE HERE:

Russian software company cons its way into apps used by US Army, CDC, UK Labour Party and more

German engineering group Siemens has agreed to buy U.S.-based Mentor Graphics in a $4.5 billion deal that will bolster its industrial software operations and help it keep pace with changes to manufacturing technology.

Siemens will pay Mentor Graphics shareholders $37.25 per share, a 21-per cent premium to Friday&#39;s closing price, and expects to fund the deal from cash reserves, it said on Monday.

Siemens Chief Executive Joe Kaeser has set out to reshape the group, a household name in Germany, to make it more profitable and agile by selling off non-core businesses and investing in areas such as software that promise faster growth and fatter margins.

Kaeser has so far managed to reassure investors that he will improve on his predecessor Peter Loescher&#39;s weak track record on making acquisitions pay off in the longer run.

Mentor Graphics makes software that helps semiconductor companies design and test their chips before they manufacture them and represents Siemens&#39;s biggest deal in the industrial software sector since it bought UGS for $3.5 billion in 2007.

Siemens said it now had all software that its customers needed to develop complex electronic machinery such as aeroplanes, trains and cars.

&quot;Our customers are driving a paradigm shift towards more and more complex and smart connected products such as autonomous vehicles,&quot; Siemens finance chief Ralf Thomas told analysts and journalists during a conference call on Monday.

&quot;This acquisition is our answer to this development,&quot; he added.

Baader Helvea analyst Guenther Hollfelder, who has a &quot;buy&quot; recommendation on Siemens shares, said the acquisition did not appear overly expensive at a valuation of 18.5 times operating profit.

Activist shareholder support

Shares in Mentor Graphics jumped 18.5 per cent to $36.37 in early U.S. trading, while Siemens was 1.1 per cent higher by 1435 GMT.

Mentor Graphics has been under pressure since activist hedge fund Elliott Management Corp reported an 8.1 per cent stake in the company in September and said its shares were deeply undervalued.

Elliott said on Monday it supported the deal and saw it as &quot;great outcome&quot; for Mentor Graphics&#39; shareholders and customers.

People familiar with the matter had flagged the planned deal to Reuters, saying Siemens would pay $4.5 billion to $4.6 billion for Mentor Graphics, which competes with Synopsys and Cadence.

Siemens said last week that it planned a public listing of its $15 billion healthcare business, which pushed its shares to a 16-year high as investors hoped for an injection of capital to boost its valuation while funding new investments.

Siemens said it expected the acquisition to add to its earnings per share within three years and to lift earnings before interest and tax (EBIT) by more than 100 million euros ($107.21 million) within four years.

About half of the earnings boost will come from revenue synergies and the other half from lower costs, including from some job cuts, Siemens CFO Thomas said.

The deal will boost its software revenue by about a third from 3.3 billion euros, to around 6 per cent of group revenue.

Deutsche Bank and JP Morgan advised Siemens on the transaction, which is expected to close in the second quarter of 2017. Bank of America advised Mentor Graphics.

(Reuters)

Siemens will pay Mentor Graphics shareholders $37.25 per share, a 21-per cent premium to Friday's closing price

German engineering group Siemens has agreed to buy U.S.-based Mentor Graphics in a $4.5 billion deal that will bolster its industrial software operations and help it keep pace with changes to manufacturing technology. Siemens will pay Mentor Graphics shareholders $37.25 per share, a 21-per cent premium to Friday's closing price, and expects to fund the deal from cash reserves, it said on Monday. Siemens Chief Executive Joe Kaeser has set out to reshape the group, a household name in Germany, to make it more profitable and agile by selling off non-core businesses and investing in areas such as software that promise faster growth and fatter margins. Kaeser has so far managed to reassure investors that he will improve on his predecessor Peter Loescher's weak track record on making acquisitions pay off in the longer run. Mentor Graphics makes software that helps semiconductor companies design and test their chips before they manufacture them and represents Siemens's biggest deal in the industrial software sector since it bought UGS for $3.5 billion in 2007. Siemens said it now had all software that its customers needed to develop complex electronic machinery such as aeroplanes, trains and cars. "Our customers are driving a paradigm shift towards more and more complex and smart connected products such as autonomous vehicles," Siemens finance chief Ralf Thomas told analysts and journalists during a conference call on Monday. "This acquisition is our answer to this development," he added. Baader Helvea analyst Guenther Hollfelder, who has a "buy" recommendation on Siemens shares, said the acquisition did not appear overly expensive at a valuation of 18.5 times operating profit. Activist shareholder support Shares in Mentor Graphics jumped 18.5 per cent to $36.37 in early U.S. trading, while Siemens was 1.1 per cent higher by 1435 GMT. Mentor Graphics has been under pressure since activist hedge fund Elliott Management Corp reported an 8.1 per cent stake in the company in September and said its shares were deeply undervalued. Elliott said on Monday it supported the deal and saw it as "great outcome" for Mentor Graphics' shareholders and customers. People familiar with the matter had flagged the planned deal to Reuters, saying Siemens would pay $4.5 billion to $4.6 billion for Mentor Graphics, which competes with Synopsys and Cadence. Siemens said last week that it planned a public listing of its $15 billion healthcare business, which pushed its shares to a 16-year high as investors hoped for an injection of capital to boost its valuation while funding new investments. Siemens said it expected the acquisition to add to its earnings per share within three years and to lift earnings before interest and tax (EBIT) by more than 100 million euros ($107.21 million) within four years. About half of the earnings boost will come from revenue synergies and the other half from lower costs, including from some job cuts, Siemens CFO Thomas said. The deal will boost its software revenue by about a third from 3.3 billion euros, to around 6 per cent of group revenue. Deutsche Bank and JP Morgan advised Siemens on the transaction, which is expected to close in the second quarter of 2017. Bank of America advised Mentor Graphics. (Reuters)

Siemens boosts software business with $4.5 billion deal with Mentor Graphics

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