Mitsubishi Electric to Acquire ICONICS, Inc. in United States

Will enhance software product lineup to strengthen e-F@ctory FA-IT integrated solution

TOKYO--(BUSINESS WIRE)-- Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it will acquire the remaining shares of ICONICS, Inc., a U.S. software company focused on SCADA,1 IoT, mobile, analytics and cloud software products for the manufacturing, industrial and building-automation markets, to make the company a 100% subsidiary within the Mitsubishi Electric Group. Mitsubishi Electric aims to enhance its software product lineup to realize e-F@ctory,2 including edge-computing, by combining ICONICS’ software-developing capabilities and Mitsubishi Electric’s factory-automation technology.

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.

1 Supervisory Control and Data Acquisition (SCADA) is a software used together with programmable logic controllers or other automation products to monitor, or gather data from, productions sites.
2 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.

About ICONICS
Company name		ICONICS, Inc.
CEO		Russell L. Agrusa
CFO		James L. Kent
Location		100 Foxborough Boulevard, Foxborough, MA 02035, USA
Foundation		June 1986
Business		Software development, sales and services of SCADA, IoT and cloud solutions
Website		https://iconics.com/

For the full text, please visit: www.MitsubishiElectric.com/news/

View source version on businesswire.com: https://www.businesswire.com/news/home/20190512005001/en/

Customer Inquiries
Overseas Marketing Department
Factory Automation Systems Group
Mitsubishi Electric Corporation
www.MitsubishiElectric.com/fa/support
www.MitsubishiElectric.com/fa

Media Inquiries
Takeyoshi Komatsu
Public Relations Division
Mitsubishi Electric Corporation
Tel: +81-3-3218-2346
[email protected]
www.MitsubishiElectric.com/news/

Source: Mitsubishi Electric Corporation

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Justice Department halts antitrust cooperation with Canada - report
• Star Bulk Carriers Corp. Announcement Admission to Parallel Listing on Euronext Athens and Equity Offering in Greece of up to €112.2 Million
• Postpartum Support International Calls for Reform as Lindsay Clancy Case Ends in Mistrial