Mitsubishi Electric to Acquire ICONICS, Inc. in United States

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.

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Retrieved on: 
Monday, May 13, 2019
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Technology, Data management, Internet, Networks, Software, Other Technology, Mobile, Wireless, Manufacturing, Other Manufacturing, Companies, Automation, Technology, Mitsubishi companies, Industries, Iconics, Mitsubishi Motors, Mitsubishi Electric, Mitsubishi, Scada, Internet of things, General Electric
Geotags: 
United States, Massachusetts, Japan
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Organisation: 
ICONICS
Summary
Key Points: 
  • 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 Electrics factory-automation technology.
  • The acquisition is subject to regulatory approval and other customary closing conditions, and is expected to close within Mitsubishi Electrics fiscal year ending in March 2020.
  • 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.


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.

About ICONICS

Company name   ICONICS, Inc.
CEO Russell L. Agrusa
CFO James L. Kent
Location 100 Foxborough Boulevard, Foxborough, MA 02035, USA
Foundation June 1986
Business Software development, sales and services of SCADA, IoT and cloud
solutions
Website  

https://iconics.com/



For the full text, please visit: www.MitsubishiElectric.com/news/

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