Mitsubishi Electric to Acquire ICONICS, Inc. in United States
MITSUBISHI ELEC UNSP/ADR (MIELY)
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mitsubishielectric.com/company/ir/index.html
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Source: Business Wire
Will enhance software product lineup to strengthen e-F@ctory FA-IT integrated solution TOKYO--(BUSINESS WIRE)-- Mitsubishi Electric Corporation (TOKYO:6503) announced today that it will acquire the remaining shares of ICONICS, Inc., a U.S. software company focused on SCADA,1 IoT, mobile, analytics and cloud software products for the manufacturing, industrial and building-automation markets, to make the company a 100% subsidiary within the Mitsubishi Electric Group. Mitsubishi Electric aims to enhance its software product lineup to realize e-F@ctory,2 including edge-computing, by combining ICONICS’ software-developing capabilities and Mitsubishi Electric’s factory-automation technology. The acquisition is subject to regulatory approval and other customary closing conditions, and is expected to close within Mitsubishi Electric’s fiscal year ending in March 2020. 1 Supervisory Cont
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