Germany giant Siemens has announced that it will buy the US company Brightly Software for about $1.58 billion.
Siemens said the aim of the acquisition is to add digital services to buildings and infrastructure, while the German company continues its transformation into a software provider.
Siemens has confirmed that it will advance the company's growth targets in digital business and software revenue.
Matthias Rebelius, head of Siemens' Smart Infrastructure unit, said in a statement Monday: "Brightly, the deal will enable us to jump to the next level of performance for buildings. The acquisition will lead to accelerate our goal of becoming a leading software company also in infrastructure and support our vision of fully independent buildings, according to Bloomberg, and reviewed by Al Arabiya.net.
The industrial manufacturing giant is focusing on higher-margin, software-guided production lines to help generate revenue.