The FINANCIAL — Following the completion of antitrust proceedings by end of September, the EU Commission has approved the acquisition of innotec GmbH by Siemens without imposing any conditions.
This international vendor of digital engineering software and services for the process industry will become a subsidiary of Siemens AG in the Industry Automation Division. The company will change its name to Comos Industry Solutions GmbH. It was agreed not to disclose the purchase price.
With a workforce of some 230, innotec is a leading supplier of lifecycle management systems, especially for plant in the process industry. This global player company will become a subsidiary of Siemens AG and, for organizational purposes, be assigned to the Industry Automation Division. innotec GmbH will change its name to Comos Industry Solutions GmbH with immediate effect and be managed by Stephan Rohleder, Executive Director, and Frank Ebert, Head of Business Administration.
The acquisition will allow the Siemens Industry Automation Division to expand its portfolio for customers in the process industry. Comos enables Siemens to offer an integrated software solution, all the way from the planning stage of a production plant, through operation, right up to modernization and planning of decommissioning work. This will help Siemens to extend its global reach in the market for industrial software. Ralf-Michael Franke, Head of the Industrial Automation Systems Business Unit said, "The addition of innotec to our strength will make us the first vendor in the world that can offer to all areas of the manufacturing and process industry integrated solutions for all production operations and for the entire production lifecycle."
