Mitsubishi Electric to acquire software company ICONICS
Mitsubishi Electric Corporation has announced that it will acquire the remaining shares of ICONICS, Inc., a US software company focused on SCADA, 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 line-up to realise its e-F@ctory concept, including edge computing, by combining ICONICS’ software-developing capabilities and Mitsubishi Electric’s factory automation technology. e-F@ctory is an integrated solution based on factory automation and information technologies to reduce the total cost of developing, producing and maintaining products.
As the demand increases for data utilisation with IoT technology in manufacturing industries, Mitsubishi Electric has been launching software products compatible with the Edgecross3 platform, an open software platform from Japan supporting edge computing and OT/IT integration. ICONICS has been developing and offering competitive software products for various business sectors, such as industrial automation, and it possesses established technology and knowledge in the development of industrial software for SCADA, IoT, mobile, analytics and cloud-based solutions.
ICONICS was founded in 1986 to create off-the-shelf HMI and SCADA and visualisation software for factory automation. The company is headquartered in Foxborough, Massachusetts, and has over 350,000 installations of its software in over 80 countries worldwide, running in over 70% of Global 500 companies.
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.
Divestment means company will focus more on industrial automation and robotics businesses.
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