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    SIE   DE0007236101

SIEMENS AG

(SIE)
  Report
Real-time Estimate Tradegate  -  09:05 2022-09-26 am EDT
98.93 EUR   +0.30%
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Siemens closes brightly acquisition, elevating software offering for building operations

08/05/2022 | 08:39am EDT

Siemens Smart Infrastructure (SI), the frontrunner in digital buildings, has completed the acquisition of Brightly Software, a leading U.S.-based software-as-a-service (SaaS) provider of asset and maintenance management solutions.

The acquisition elevates SI to a leading position in the software market for buildings and built infrastructure. It adds Brightly's well-established cloud-based capabilities across key sectors - education, public infrastructure, healthcare, and manufacturing - to Siemens' digital and software know-how in buildings. Brightly's addition to the Siemens portfolio accelerates the build-up of SI's SaaS business, enabling the companies to deliver superior performance and sustainability for built infrastructure.

'We're delighted to welcome Brightly to the Siemens family. Together with Brightly, we can take buildings to the next level of performance and strengthen Siemens' standing in the fast-growing market of buildings and built infrastructure,' said Matthias Rebellius, Member of the Managing Board of Siemens AG and CEO of Smart Infrastructure. 'We see substantial value creation potential and growth opportunities from coupling the offerings under Siemens Xcelerator and Brightly's well-established SaaS business and customer base.'

The signing of a binding acquisition agreement pertaining to the transaction was announced on June 27 this year. Following the announcement, Siemens launched Siemens Xcelerator, an open digital business platform, to accelerate digital transformation and value creation for customers of all sizes in industry, buildings, grids and mobility.

'Today marks an exciting milestone in Brightly's history as we join Siemens. With digital transformation and ESG mandates on the rise, our global community is at a crossroads - one that requires intelligent software solutions to transform the performance of infrastructure assets,' said Kevin Kemmerer, Chief Executive Officer at Brightly. 'Together with Siemens, we're well positioned to help our clients across the world build a future where efficient operations and smart assets power sustainable communities.'

It is estimated that 7 billion people will live in urban areas by 2050. This trend, coupled with the urgency of tackling climate change, highlights the need for smart and sustainable communities and infrastructure. Siemens strives to build smart communities, enabled by digitalization and intelligent systems. The company's solutions, services, and software connect the real and digital worlds, as well as IT and OT, injecting intelligence into operations of built infrastructure.

Brightly is headquartered in Cary, NC, and has around 800 employees serving around 12,000 customers, mainly across the U.S., Canada, U.K. and Australia. Brightly, a Siemens company, is now part of Siemens SI, reporting to its CEO.

Siemens AG (Berlin and Munich) is a technology company focused on industry, infrastructure, transport, and healthcare. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more comfortable transportation as well as advanced healthcare, the company creates technology with purpose adding real value for customers. By combining the real and the digital worlds, Siemens empowers its customers to transform their industries and markets, helping them to transform the everyday for billions of people. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a globally leading medical technology provider shaping the future of healthcare. In addition, Siemens holds a minority stake in Siemens Energy, a global leader in the transmission and generation of electrical power. In fiscal 2021, which ended on September 30, 2021, the Siemens Group generated revenue of EUR62.3 billion and net income of EUR6.7 billion. As of September 30, 2021, the company had around 303,000 employees worldwide.

Brightly Software is a leader in intelligent asset management solutions, enables organizations to transform the performance of their assets. Brightly's sophisticated cloud-based platform leverages more than 20 years of data to deliver predictive insights that help users through the key phases of the entire asset lifecycle. More than 12,000 clients of every size worldwide depend on Brightly's complete suite of intuitive software - including CMMS, EAM, Strategic Asset Management, IoT Remote Monitoring, Sustainability and Community Engagement. Paired with award-winning training, support and consulting services, Brightly helps light the way to a bright future with smarter assets and sustainable communities.

Forward looking statement

This document contains statements related to our future business and financial performance and future events or developments involving Siemens that may constitute forward-looking statements. These statements may be identified by words such as 'expect,' 'look forward to,' 'anticipate,' 'intend,' 'plan,' 'believe,' 'seek,' 'estimate,' 'will,' 'project' or words of similar meaning. We may also make forward-looking statements in other reports, in prospectuses, in presentations, in material delivered to shareholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements are based on the current expectations and certain assumptions of Siemens' management, of which many are beyond Siemens' control. These are subject to a number of risks, uncertainties and factors, including, but not limited to those described in disclosures, in particular in the chapter Report on expected developments and associated material opportunities and risks in the Combined Management Report of the Siemens Report (siemens.com/siemensreport), and in the Interim Group Management Report of the Half-year Financial Report (provided that it is already available for the current reporting year), which should be read in conjunction with the Combined Management Report. Should one or more of these risks or uncertainties materialize, should decisions, assessments or requirements of regulatory authorities deviate from our expectations, should events of force majeure, such as pandemics, unrest or acts of war, occur or should underlying expectations including future events occur at a later date or not at all or assumptions prove incorrect, actual results, performance or achievements of Siemens may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement.

This document includes in the applicable financial reporting framework not clearly defined supplemental financial measures that are or may be alternative performance measures (non-GAAP-measures). These supplemental financial measures should not be viewed in isolation or as alternatives to measures of Siemens' net assets and financial positions or results of operations as presented in accordance with the applicable financial reporting framework in its Consolidated Financial Statements. Other companies that report or describe similarly titled alternative performance measures may calculate them differently.

Contact:

Florian Martens

Tel: +49 162 2306627

Email: florian.martens@siemens.com

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
SIEMENS AG 0.33% 99 Delayed Quote.-35.40%
SIEMENS ENERGY AG 1.57% 11.645 Delayed Quote.-49.09%
SIEMENS HEALTHINEERS AG 1.72% 42.17 Delayed Quote.-37.24%
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Financials
Sales 2022 70 379 M 68 429 M 68 429 M
Net income 2022 3 973 M 3 863 M 3 863 M
Net Debt 2022 37 922 M 36 871 M 36 871 M
P/E ratio 2022 20,7x
Yield 2022 4,22%
Capitalization 77 876 M 75 718 M 75 718 M
EV / Sales 2022 1,65x
EV / Sales 2023 1,54x
Nbr of Employees 308 000
Free-Float 88,3%
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Number of Analysts 22
Last Close Price 98,63 €
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Spread / Average Target 50,8%
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Managers and Directors
Roland Emil Busch President & Chief Executive Officer
Ralf Peter Thomas Head-Corporate Finance, Accounting & Controlling
Jim Hagemann Snabe Chairman-Supervisory Board
Hanna Hennig Chief Information Officer
Bernhard Wardin Head-Technology & Innovation
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