Mitsubishi Electric Corporation announced that it will acquire the remaining shares of ICONICS, Inc., a U.S. software company focused on SCADA, 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, 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.
launching software products
- Supervisory Control and Data Acquisition (SCADA) is software used together with programmable logic controllers or other automation products to monitor, or gather data from, production sites.
- e-F@ctory is an integrated solution based on factory automation (FA) and information technologies to reduce the total cost of developing, producing, and maintaining products.
- Company name: ICONICS, Inc.
- CEO: Russell L. Agrusa
- CFO: James L. Kent
- Location: 100 Foxborough Boulevard, Foxborough, MA 02035, USA
- Foundation: June 1986
- Business: Software development, sales and services of SCADA, IoT, and cloud solutions
As the demand increases for data utilization with IoT technology in manufacturing industries, Mitsubishi Electric - based on its e-F@ctory concept - has been launching software products compatible with the Edgecross platform.
competitive software products
ICONICS has been developing and offering competitive software products for various business sectors, such as industrial automation, and it possesses established technology and remarkable knowledge for the development of industrial software for SCADA, IoT, mobile, analytics, and cloud-based solutions.
Mitsubishi Electric, through this acquisition, aims to strengthen its development capabilities by integrating ICONICS' engineering skills, expertise, and technology for the development of software products to realize e-F@ctory. Going forward, Mitsubishi Electric will provide various types of software products to meet data-utilization needs in manufacturing industries and thereby contribute to improved manufacturing productivity and quality.
