Siemens Acquires innotec to Enhance its Industrial Software Offerings21 Aug, 2008
Company plans to offer systemwide solutions to all sectors of the manufacturing and process industries.
Siemens announced today that the company plans to expand its portfolio of industrial software with an agreement to acquire innotec of Schwelm, Germany, an international vendor of digital engineering software and services for the process industry. Siemens reports that the acquisition will increase the global leadership of Industry Automation, a division of the Siemens Industry Sector, in the market for industrial software. The move will allow the industrial equipment provider to offer all sectors of the manufacturing and process industries systemwide solutions for integrating the production sequence and production lifecycle. The purchase price of innotec was not disclosed, and the transaction is subject to the agreement of the authorities. In 2007 Industry Automation acquired U.S.-based UGS, an industrial software supplier primarily active in the discrete manufacturing industry.
With about 200 employees, innotec is a digital engineering software vendor for plants in the process industry. As a result of the acquisition, innotec will become a subsidiary of Siemens AG, and for organizational purposes it will be assigned to the Industrial Automation Systems Business Unit.
"innotec is an outstanding technological supplement to our portfolio. It will make us the first vendor in the world that can offer the process industry an integrated software solution, from the planning stage of a production plant, through operation, right up to modernization," said CEO Ralf-Michael Franke. "In the future, our customers in the process industry, like those in the discrete manufacturing industry, will be able to significantly reduce the time-to-market with coordinated Siemens technology."
According to Franke, the innotec software complements Siemens' automation engineering products and services, such as its Simatic PCS 7 process control system and range of process instrumentation. Additionally, the sales expertise of the innotec employees, along with their established customer relationships with leading companies in the process industry, form a suitable supplement to the corresponding regional sales units of Siemens.
"Our customers will continue to receive outstanding service and support in addition to the latest software technology. As a part of Siemens, we will provide our customers with a strong partner and investment security," said Stephan Rohleder, COO of innotec.