Siemens Smart Infrastructure closes $1.6bn acquisition of Brightly Software
Siemens Smart Infrastructure (SI) has closed the previously announced $1.575 billion acquisition of Brightly Software, an American software-as-a-service (SaaS) company that provides solutions for asset and maintenance management.
The deal, which was announced in June 2022, also includes an earn-out of $300 million for Brightly Software.
Siemens Smart Infrastructure acquired Brightly Software from Clearlake Capital.
According to Siemens, the acquisition will boost the position of its Siemens Smart Infrastructure unit in the software market for buildings as well as built infrastructure.
Furthermore, the acquisition will add the cloud-based capabilities of Brightly Software across major sectors such as education, healthcare, public infrastructure, and manufacturing to the digital and software expertise in buildings of Siemens.
It will also speed up the build-up of the SaaS business of Siemens Smart Infrastructure to allow the firms to deliver increased performance and sustainability for built infrastructure.
Siemens Smart Infrastructure closes $1.6bn acquisition of Brightly Software. Photo courtesy of Janericloebe/Wikipedia.org.
Matthias Rebellius — Siemens Member of the Managing Board and Siemens Smart Infrastructure CEO said: Together with Brightly, we can take buildings to the next level of performance and strengthen Siemens’ standing in the fast-growing market of buildings and built infrastructure.
“We see substantial value creation potential and growth opportunities from coupling the offerings under Siemens Xcelerator and Brightly’s well-established SaaS business and customer base.”
Siemens Xcelerator, which is an open digital business platform was launched by Siemens after announcing the deal to acquire Brightly Software. The new digital business platform is designed to expedite digital transformation and value creation for customers in buildings, industry, mobility, and grids.
Kevin Kemmerer — Brightly Software CEO said: “With digital transformation and ESG mandates on the rise, our global community is at a crossroads – one that requires intelligent software solutions to transform the performance of infrastructure assets.
“Together with Siemens, we’re well positioned to help our clients across the world build a future where efficient operations and smart assets power sustainable communities.”