Siemens Buys US Company SupplyFrame for $700 Million
By Olivia Bugault
Siemens AG said late Monday that it has signed a deal for the
acquisition of U.S.-based electronics value chain provider
Supplyframe for $700 million.
The German engineering conglomerate said that the acquisition
would reinforce its Software as a Service portfolio.
"Supplyframe's SaaS offerings have been growing with
approximately 40% per annum over the last years, a rate that is
expected to continue mid-term," Siemens said. Supplyframe's
expected revenue for its fiscal year 2021 is around $70 million,
The German company also said that it expects important synergies
from the deal and that its earnings per share should increase
pre-purchase price allocation in the second year after closing. The
deal is expected to close in the fourth quarter of its fiscal year
Write to Olivia Bugault at firstname.lastname@example.org
(END) Dow Jones Newswires
May 18, 2021 02:34 ET (06:34 GMT)
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