A partnership of Bain Capital, Silver Lake Partners and Warburg Pincus has signed a definitive agreement for the UGS PLM Solutions unit, which develops software for managing product design and boasts such industry giants as General Motors, Ford and Boeing among its customers.

The deal is the biggest divestiture so far by EDS as part of its recovery strategy. “While UGS PLM Solutions is an excellent business and has been a solid contributor to EDS, its business is clearly outside of our core focus,” said EDS chief financial officer Bob Swan. “As a result, we’re essentially divesting a on-core, non-strategic operation.”

The sale will help EDS to pay off its estimated $5 billion debt.

The UGS PLM unit generated $897 million in revenue and $104 million in net income in 2003 and is one of the biggest vendors of product lifecycle management software.

“This company has terrific growth opportunities,” Bain Capital managing director Andrew Balson told Reuters. “We’re committed to growing the business and adding value.”