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Mitsubishi Electric to Acquire ICONICS, Inc. in United States
Published: May 13,2019Mitsubishi Electric 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.
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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.
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