TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO:6503) announced today that it will acquire the remaining shares of ICONICS, Inc., a U.S. software company focused on SCADA,1 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 lineup to realize e-F@ctory,2 including edge-computing, by combining ICONICS’ software-developing capabilities and Mitsubishi Electric’s factory-automation technology.
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.
1 Supervisory Control and Data Acquisition (SCADA) is a
software used together with programmable logic controllers or other
automation products to monitor, or gather data from, productions sites.
2 e-F@ctory is an integrated solution based on factory automation (FA) and information technologies to reduce the total cost of developing, producing and maintaining products.
|Company name||ICONICS, Inc.|
|CEO||Russell L. Agrusa|
|CFO||James L. Kent|
|Location||100 Foxborough Boulevard, Foxborough, MA 02035, USA|
|Business||Software development, sales and services of SCADA, IoT and cloud solutions|
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