Siemens to Acquire Automation Specialist IST
July 05 2019 - 11:16AM
Dow Jones News
By Patrick Costello
Siemens AG (SIE.XE) said Friday that it has agreed to acquire
IST GmbH, a Germany-based specialist in automation technology, for
an undisclosed sum.
IST and its roughly 50 employees should be integrated into the
production machines segment of Siemens' digital industries unit by
April 1, 2020, the German industrial conglomerate said. The two
parties agreed not to disclose the financial terms of the deal.
Siemens said it aims to strengthen its development potential in
the market for production machinery with the acquisition. IST
develops applications and services for the control of production
machines, Siemens said.
Write to Patrick Costello at patrick.costello@dowjones.com.
(END) Dow Jones Newswires
July 05, 2019 11:01 ET (15:01 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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