By Kim Richters

Siemens AG (SIE.XE) said late Monday that it plans to buy technology company Process Systems Enterprise.

The German conglomerate said that it will acquire 100% of the share capital in the London-based company, which produces advanced process modeling software and services.

Siemens said that it has been working with Process Systems Enterprise since June last year. It added that it plans to integrate the company into its process automation business unit, part of Siemens Digital Industries.

Financial terms of the deal--expected to close in the fourth quarter--weren't disclosed.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

September 17, 2019 02:01 ET (06:01 GMT)

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