1. Homepage
  2. Equities
  3. Germany
  4. Xetra
  5. Siemens AG
  6. News
  7. Summary
    SIE   DE0007236101

SIEMENS AG

(SIE)
  Report
Delayed Xetra  -  11:35 2022-08-12 am EDT
111.84 EUR   +1.75%
08/12Scottishpower - green electricity boost for uk as work starts on east anglia three windfarm
AQ
08/12Azure Power Global Signs Supply Agreement for Onshore Wind Turbines With Siemens Gamesa
MT
08/12SIEMENS AG : Gets a Buy rating from Deutsche Bank
MD
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Siemens to buy U.S. software company Brightly in $1.58 billion deal

06/27/2022 | 12:19pm EDT
FILE PHOTO: Siemens virtual annual shareholder meeting in Munich

ZURICH (Reuters) - Siemens is buying U.S. tech company Brightly Software from private equity owner Clearlake Capital for $1.58 billion, the German engineering group said on Monday, its latest move to broaden its software credentials and grow faster than rivals.

Siemens Smart Infrastructure, which offers digital systems to manage buildings' security and energy consumption, is buying Brightly to expand its offering in the area of "software as a service" (SAAS).

Brightly, based in North Carolina, makes cloud-based software that collects data from sensors installed in buildings and analyses when maintenance will be needed before a problem occurs.

"Today's acquisition bolsters our growth targets, especially for digital revenue and software as a service," Siemens Chief Executive Roland Busch said in a statement.

SAAS increases Siemens' access to small- and medium-sized customers by making software a subscription rather than a purchase.

Clearlake bought Brightly, whose products are used in schools, hospitals, offices and factories, for roughly $500 million in 2019.

Brightly expects revenues of around $180 million for 2022, and operates in a market with an annual growth rate of 13%, Siemens said.

Matthias Rebellius, chief executive of Smart Infrastructure and a member of Siemens' managing board, said Brightly's maintenance asset management software complemented Siemens' existing offering in building management software.

"An owner of a real estate portfolio wants to optimize its operational expenditure and make sure the asset is more valuable if and when they sell it," he told Reuters. "It can reduce downtime and can generate significant savings."

The deal will improve profitability at Smart Infrastructure, with Brightly's current margins above the division's 11-16% midterm target.

Siemens said the deal, which is expected to be completed by the end of 2022, will be accretive to earnings per share in the second year after closing.

The acquisition is part of Siemens' ambition to grow faster than rivals like France's Schneider Electric and Alstom as well as General Electric by combining its core engineering business with digital expertise.

Siemens would continue to target small deals to boost Smart Infrastructure, Rebellius said.

Siemens last year said it wanted to enter additional markets with a value of 120 billion euros, with software as a service seen as a key part of the strategy.

(Reporting by John Revill; Editing by Mark Porter)

By John Revill


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ALSTOM -4.30% 24.24 Real-time Quote.-22.36%
GENERAL ELECTRIC COMPANY 1.31% 79.93 Delayed Quote.-15.39%
SCHNEIDER ELECTRIC SE 0.82% 135.14 Real-time Quote.-21.64%
SIEMENS AG 1.75% 111.84 Delayed Quote.-26.75%
All news about SIEMENS AG
08/12Scottishpower - green electricity boost for uk as work starts on east anglia three wind..
AQ
08/12Azure Power Global Signs Supply Agreement for Onshore Wind Turbines With Siemens Gamesa
MT
08/12SIEMENS AG : Gets a Buy rating from Deutsche Bank
MD
08/12SIEMENS AG : Credit Suisse reiterates its Buy rating
MD
08/12Spain's Siemens Gamesa Wins New Wind Turbine Order from India
MT
08/12SIEMENS AG : Buy rating from JP Morgan
MD
08/11SGS Joins Siemens To Provide Sustainability Consulting To Southeast Asian Businesses
MT
08/11Siemens Aktiengesellschaft Reports Earnings Results for the Third Quarter and Nine Mont..
CI
08/11Industrials Up After PPI Data -- Industrials Roundup
DJ
08/11GLOBAL MARKETS LIVE : Walt Disney, Bank of America, Sonos, ABB, Roche...
MS
More news
Analyst Recommendations on SIEMENS AG
More recommendations
Financials
Sales 2022 69 668 M 71 432 M 71 432 M
Net income 2022 4 301 M 4 410 M 4 410 M
Net Debt 2022 37 256 M 38 200 M 38 200 M
P/E ratio 2022 22,8x
Yield 2022 3,73%
Capitalization 88 689 M 90 935 M 90 935 M
EV / Sales 2022 1,81x
EV / Sales 2023 1,69x
Nbr of Employees 303 000
Free-Float 88,4%
Chart SIEMENS AG
Duration : Period :
Siemens AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SIEMENS AG
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 111,84 €
Average target price 149,42 €
Spread / Average Target 33,6%
EPS Revisions
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
Sector and Competitors
1st jan.Capi. (M$)
SIEMENS AG-26.75%90 935
BERKSHIRE HATHAWAY INC.0.45%663 939
HONEYWELL INTERNATIONAL INC.-3.66%135 325
GENERAL ELECTRIC COMPANY-15.39%87 647
3M COMPANY-14.29%86 750
ILLINOIS TOOL WORKS INC.-11.89%67 330