German conglomerate Siemens announced Monday the acquisition of American company Brightly Software for nearly $1.58 billion, continuing its development strategy as an industrial software provider. Siemens’ Smart Infrastructure (SI) division has signed a $1.575 billion acquisition of Brightly Software Group from private equity firm Clearlake Capital, which it owns since 2019, Siemens said in a press release.
The restoration, which should be completed by the end of 2022, subject to approval by the competent authorities, “It will accelerate our goal to become a leading infrastructure software company and support our vision of fully autonomous buildings.”SI chief Matthias Rebelius, quoted in the statement. Brightly, which is targeting $180 million in revenue this year, creates cloud-based software and offers digital systems to manage building safety and energy use.
Siemens will be able to expand its offering in the area of ”software as a service” (SAAS), the group emphasizes, and strengthen its strategy to combine its core engineering business with digital expertise. Like all industrial conglomerates, the broad and diversified Siemens has had to adapt to an economy where specialization has become central. In recent years, the group has focused on innovative areas: industry 4.0, software, automation, abandoning other areas considered less profitable.
Source: Le Figaro
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