Zug, SWITZERLAND - The purchase price for this project is $1.575 billion.

According to Siemens, Siemens Smart Infrastructure (SI) has signed an agreement to acquire Brightly Software, a U.S.-based software-as-a-service provider of asset and maintenance management solutions.

The purchase price is $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.

The transaction is subject to regulatory approvals, with closing expected in calendar year 2022.

"With digital transformation and sustainability high on agendas, coupled with a challenging regulatory environment, the need for connected assets and real-time asset data is driving greater demand for intelligent asset management solutions across the globe," said Kevin Kemmerer, Chief Executive Officer at Brightly. "We see an incredible opportunity to combine our knowledge and software with Siemens to accelerate the digitization and optimization of the built environment. Helping customers assess and manage their collective assets, build short- and long-term capital plans and manage energy and ESG goals. Together, we have the experience to help clients across the world transform the performance of their assets and create safe, sustainable and thriving communities."

Source:  Siemens