Mitsubishi Electric to acquire automation software company Iconics

May 21, 2019
The acquisition is subject to regulatory approval and other customary closing conditions, and is expected to close in the fiscal year ending in March 2020

Mitsubishi Electric announced plans to acquire the remaining shares of Iconics, a U.S. software company focused on SCADA, Internet of Things, 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. By combining Iconics' software-developing capabilities and Mitsubishi Electric's factory-automation technology, the company hopes to enhance its software product lineup and edge-computing capabilities.

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.

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