Siemens : to acquire U.S.-based Supplyframe for $700 million

FRANKFURT (Reuters) - Germany's Siemens on Monday said it signed an agreement to buy U.S.-based Supplyframe for $700 million.

"Supplyframe's ecosystem and marketplace intelligence complements our industrial software portfolio perfectly and strengthens our capabilities for the growing market of small- and mid-size customers," Siemens board member Cedrik Neike said.

Siemens said the deal would result in synergies amounting to a mid triple-digit million dollar sum.

(Reporting by Christoph Steitz; Editing by Chris Reese)