Siemens to Acquire US-Based Brightly Software for More Than $1.58 Billion
June 27 2022 - 12:44PM
Dow Jones News
By Ed Frankl
Siemens AG said Monday that it has agreed to acquire U.S.-based
software-as-a-service provider Brightly Software for $1.58
billion.
The German conglomerate said the deal will complement its
digital offerings for buildings, and put it in a strong position to
address the fast-growing software market for buildings and the
built infrastructure.
Siemens added that it will leverage Brightly's footprint in the
U.S. market with the acquisition, which will create synergies with
an expected "mid-triple-digit million" net value.
The deal is subject to regulatory approvals with closing
expected in the 2022 calendar year.
The transaction will be earnings-per-share accretive before
purchase price allocation the second year after closing, Siemens
added.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
June 27, 2022 12:29 ET (16:29 GMT)
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