Siemens acquires innotec

Siemens has expanded its portfolio of industrial software with an agreement to acquire German company innotec, an international vendor of digital engineering software and services for the process industry.

The acquisition will increase the capacity of Siemens' Industry Automation division, which will now offer manufacturing and process industries system-wide solutions for integrating the entire production sequence and production life cycle.

"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 modernisation,” 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 of innotec was not disclosed, and the transaction is subject to the agreement of the authorities.