Siemens, a provider of industrial automation and systems integration solutions, has announced the acquisition of asset management software provider Brightly Software through Siemens Smart Infrastructure for a consideration of USD 1.875 billion. USD 1.575 billion of the consideration will be paid in cash and USD 300 million in cash earn-out payments. The transaction is expected to close in 2H 2022 subject to regulatory approvals.
Siemens expects the acquisition to accelerate its progress toward becoming a leading software company in the infrastructure space and its vision of creating fully autonomous solutions for customers.
Brightly offers AI-based asset management solutions to provide predictive insights on assets. The company has over 12,000 customers in manufacturing, healthcare, real estate, education, and other industries.
Siemens Smart Infrastructure offers AI-based solutions to intelligently connect manufacturing facilities, buildings, and energy systems to improve efficiency and sustainability.