Mitsubishi Electric to Acquire ICONICS, Inc. in United States

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.

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