Brightly Software’s cloud-based platform is said to use over 20 years of data for delivering predictive insights to help users through the major phases of the entire asset lifecycle
Siemens to acquire Brightly Software. (Credit: Rufus46/Wikipedia.org)
Siemens Smart Infrastructure, a unit of German conglomerate Siemens, will acquire Brightly Software, a US-based software-as-a-service (SaaS) provider of asset and maintenance management solutions, for $1.57bn plus an earn-out of $300m.
Currently, Brightly Software is owned by private equity firm Clearlake Capital. Previously, operating as Dude Solutions, the cloud-based asset management solutions provider was acquired by Clearlake Capital in June 2019.
Brightly Software’s cloud-based platform is said to utilise over 20 years of data for delivering predictive insights to help users through the important phases of the entire asset lifecycle.
Over 12,000 clients of various sizes around the world are said to use the company’s suite of intuitive software. Brightly Software’s solutions include CMMS, EAM, IoT Remote Monitoring, Strategic Asset Management, Sustainability and Community Engagement.
According to Siemens, the deal strengthens its position in the software market for buildings as well as built infrastructure.
Through the deal, Siemens Smart Infrastructure will add the cloud-based capabilities of Brightly Software across important sectors such as education, healthcare, public infrastructure, and manufacturing to its own digital and software expertise in buildings.
Besides, the acquisition is said to expedite the build-up of the SaaS business of Siemens and allows both firms to jointly deliver greater performance and sustainability for built infrastructure.
Siemens president and CEO Roland Busch said: “This is another important step in our strategy as a focused technology company. By combining the real and digital worlds, we provide our customers with the technology required to drive their digital transformation to create the most sustainable and human-centric buildings.
“Today’s acquisition bolsters our growth targets, especially for digital revenue and software as a service.”
Brightly Software is expected to gain from the global footprint of Siemens, while the latter will make use of the software provider’s presence in the American market.
Siemens is expected to realise considerable synergies between Brightly Software’s capabilities and its own portfolio with an estimated mid-triple-digit million net present value.
Brightly Software CEO Kevin Kemmerer said: “With digital transformation and sustainability high on agendas, coupled with a challenging regulatory environment, the need for connected assets and real-time asset data is driving greater demand for intelligent asset management solutions across the globe.
“We see an incredible opportunity to combine our knowledge and software with Siemens to accelerate the digitisation and optimisation of the built environment.”
The deal, which is subject to regulatory approvals, is expected to close in the calendar year 2022.
Earlier this month, Siemens acquired Senseye, a UK-based industrial analytics software company for an undisclosed price.