Siemens acquires Brightly Software to accelerate its development in the field of smart buildings

Create Date: 2024-8-30 12:03:23|Source: Siemens/Siemens

Siemens Intelligent Infrastructure recently announced that it has signed an agreement to acquire Brightly Software, a SaaS provider of asset and protection management solutions in United States. The acquisition will strengthen Siemens Intelligent Infrastructure's position in the building and infrastructure software segment. The purchase price is $1.575 billion, plus contingent payments. With this acquisition, Siemens is able to combine Brightly's cloud expertise in key areas such as education, public infrastructure, healthcare, and manufacturing with its own digital and software expertise in buildings. At the same time, we will further improve Siemens' SaaS (Software as a Service) business capabilities and leverage the joint efforts of both parties to provide products and services with superior performance and high sustainability for building infrastructure. With the acquisition, Brightly will benefit from Siemens' global footprint, while Siemens will be able to leverage its presence in United States stores. Siemens has combined Brightly's expertise with its own portfolio of transactions, and estimates that the net present value will reach a median of hundreds of millions of dollars. The project is under review by the relevant regulatory authorities and is expected to be completed in 2022. The purchase will be added to earnings per share at the end of the second year after the closing of the transaction.
Siemens acquires Brightly Software to accelerate its development in the field of smart buildings

It is estimated that by 2050, 7 billion people will live in cities. The combination of urbanization and the urgency to address climate change is driving the need for smart, sustainable communities and infrastructure. Siemens is committed to building intelligent communities through digitalization and intelligence. Our solutions, services, and software connect the physical and digital world, as well as IT and OT, and then make infrastructure operations smarter.

In 2022, Brightly is estimated to generate approximately $180 million in revenue, with an expected annual recurring revenue (ARR) of $160 million. Brightly's mall is growing at a compound annual growth rate of 13%. The company is headquartered in Cary, North Carolina, and employs about 800 people. The company serves approximately 12,000 customers, primarily in United States, Canada, United Kingdom and Australia. Since 2019, the company has been owned by private equity firm Clearlake Capital.

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