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Mitsubishi Electric to acquire US software company Iconics

Mitsubishi Electric Corporation is to 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.

The acquisition makes the company a 100% subsidiary within the Mitsubishi Electric Group.

Mitsubishi Electric aims to enhance its software product lineup to realise e-F@ctory, including edge-computing, by combining Iconics’ software-developing capabilities and Mitsubishi Electric’s factory-automation technology.

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.

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.