Siemens Smart Infrastructure (SI), the frontrunner in digital buildings, has signed an agreement to acquire Brightly Software, a leading U.S.-based software-as-a-service (SaaS) provider of asset and maintenance management solutions.
The acquisition elevates SI to a leading position in the software market for buildings and built infrastructure. The purchase price is USD 1.575 billion, plus an earn-out. The acquisition will add Brightly’s well-established cloud-based capabilities across key sectors – education, public infrastructure, healthcare, and manufacturing – to Siemens’ digital and software know-how in buildings. It also accelerates the build-up of Siemens’ SaaS business and enables Siemens and Brightly together to deliver superior performance and sustainability for built infrastructure.
Brightly is expected to benefit from Siemens’ global presence, while Siemens leverages the software provider’s footprint in the U.S. market. Siemens will realise significant synergies between Brightly’s capabilities and its own portfolio with an expected mid-triple-digit million net present value.
The transaction is subject to regulatory approvals, with closing expected in calendar year 2022. The acquisition will be EPS accretive pre- PPA in the second year after closing.
