German giant Siemens has announced that it will buy US firm Brightly Software for approximately $ 1.58 billion to add digital services for buildings and infrastructure, while the German firm continues its transformation. in supplier of software.
Siemens, which has been owned by the company since 2019 private equity Clearlake Capital Group LP, said it will advance the company’s growth goals in the business digital and in the receipts of the software.
Matthias Rebelius, head of Siemens’ Smart Infrastructure unit, said on Monday that “the transaction will allow us to leap to the next level of building performance. The acquisition will also accelerate our goal of becoming a software leader in the sector “. in infrastructure and support Our vision is to create completely independent buildings, “according to” Bloomberg “, and reviewed by” Al Arabiya.net”.
The industrial manufacturing giant is focusing on product lines led by software with higher margins to help generate returns.
Siemens divested its non-principal subsidiaries as part of tale process.
At the beginning of quest’year, the company agreed to sell its delivery and parcel business from its logistics wing for 1.15 billion euros.
The software building and infrastructure management helps provide data on energy use and carbon emissions, as well as spare parts for air conditioning and remote maintenance capabilities, while Siemens already provides such services in the United States and focuses on factories and buildings.
Brightly’s customers include schools and buildings used for healthcare, and this acquisition will help Siemens increase its presence.
The transaction price includes a fee linked to the performance but it is not specified.
The deal should end quest’year, in pending regulatory approval.
Read More About: Business News