Construction of the NeuConnect project, a £2.4bn/€2.8bn vital energy link between the UK and Germany, has officially started. The project is set to interconnect two of Europe’s most significant energy markets for the first time, spearheaded by global investors including Meridiam, Allianz Capital Partners, Kansai Electric Power, and TEPCO. The NeuConnect project will position itself […]
Valmet, a global developer and supplier of technologies, automation systems, and services, has agreed to acquire the Process Gas Chromatography business from Siemens AG. The purchase is valued at €102.5 million on a cash and debt-free basis, subject to standard adjustments. The acquisition is anticipated to be completed on April 1, 2024, once all customary […]
In a decisive move to bolster Germany’s innovation capacity, Siemens has announced plans to invest €1 billion in the country. This forms part of the company’s €2 billion global investment strategy. At an event attended by German Chancellor Olaf Scholz, Siemens revealed the establishment of its new Technology Campus in Erlangen, Germany. The company is […]
Siemens Mobility has secured an INR 26,000 crores (approximately €3bn) contract to supply 1,200 electric locomotives of 9,000 horsepower to the Indian Railways over an eleven-year period. Under the agreement, the separately-managed company of Siemens will design, manufacture, commission, and test the locomotives as well as provide full-service maintenance for 35 years. Siemens Mobility along […]
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. […]
German conglomerate Siemens said that it will pull out from the Russian market in response to the country’s ongoing war against Ukraine. Siemens stated that it has begun proceedings to shut down its industrial operations as well as all industrial business activities. The German group plans to report the financial impact of its move as […]
Siemens has agreed to acquire Supplyframe, a California-based design-to-source platform for the electronics value chain, for $700 million. Supplyframe is said to have created a robust design-to-source intelligence (DSI) ecosystem with more than 10 million engineering and supply chain professionals across the world. The company is said to transform the way businesses design, procure, market, […]
Siemens has signed an agreement to sell Germany-based mechanical and electrical drive systems supplier Flender to the Carlyle Group for €2.025 billion. Flender provides a range of gear units, couplings, generators, and related services. The company caters to wind power, cement, power generation, oil and gas, marine, water and wastewater, conveyor and crane technology, and […]
US-based Galaxy Semiconductor Solutions has agreed to acquire almost all of the assets of the Quantix Business from Mentor Graphics, a business owned by Siemens for an undisclosed price. The acquisition is said to enable Galaxy Semiconductor Solutions in re-establishing itself as a major independent provider of test data management and analysis solutions for the […]
Siemens has received an order from Bayat Power, a subsidiary of Bayat Group, to supply a 41MW SGT-A45 mobile unit for the Bayat-1 power plant – the first gas-fired plant built in Afghanistan since the 1970s. Bayat-1 power plant According to the German conglomerate, a complete gas-fired power plant, centered on the SGT-A45 trailer-mounted unit, […]