Mitsubishi Electric To Acquire ICONICS, Inc. In United States
Will enhance software product lineup to strengthen e-F@ctory FA-IT integrated solution.
Mitsubishi Electric Corporation has announced 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.