Siemens acquires digital engineering vendor
Siemens has further strengthened its portfolio of manufacturing software solutions with the aquisition of innotech, the German vendor of digital engineering software and services for the process industry. The company will become a subsidiary of Siemens AG and 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.”
The purchase price was not disclosed and the transaction remains subject to approval from the relevant authorities.
