Siemens purchases innotec
05 September 2008
Siemens has agreed to acquire innotec of Schwelm, Germany, a vendor of digital engineering software and services for the process industry. Siemens said the acquisition will boost its standing in software markets for process industries.
This acquisition is hoped to increase the global leadership of Industry Automation, a division of the Siemens Industry Sector. The purchase price of innotec was not disclosed, and the transaction is subject to the agreement of the authorities. In 2007 Industry Automation had already acquired U.S.-based UGS, an industrial software supplier primarily active in the discrete manufacturing industry.
With around 200 employees, innotec is one of the leading digital engineering software vendors especially for plants in the process industry. As a result of the acquisition, innotec will become a subsidiary of Siemens AG, and for organisational purposes it will be assigned to the Industrial Automation Systems Business Unit.
Ralf-Michael Franke, CEO, said: ‘innotec is an outstanding technological supplement to our portfolio. It will make us the first vendor in the world that can offer the process industry an integrated software solution, from the planning stage of a production plant, through operation, right up to modernisation,’
He added: ‘In the future, our customers in the process industry, like those in the discrete manufacturing industry, will be able to significantly reduce the time-to-market with coordinated Siemens technology.’
According to Franke, the innotec software complements Siemens' automation engineering products and services, such as its Simatic PCS 7 process control system and wide range of process instrumentation. Additionally, the sales expertise of the innotec employees, along with their long-established and close customer relationships with leading companies in the process industry, form a suitable supplement to the corresponding regional sales units of Siemens.
‘Our customers will continue to receive outstanding service and support in addition to the latest software technology. As a part of Siemens, we will provide our customers with a strong partner and investment security,’ said Stephan Rohleder, COO of innotec.
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