ICONICS, Inc. to Wholly Acquire ICONICS UK, Ltd.

 Mitsubishi Electric Corporation (TOKYO: 6503) announced today that its wholly owned subsidiary ICONICS, Inc. has formally agreed to wholly acquire ICONICS UK, Ltd., which sells supervisory control and data acquisition (SCADA)¹ software and develops related cloud applications.

Mitsubishi Electric wholly acquired ICONICS, Inc. in 2019 to strengthen its global software-development capabilities. ICONICS UK, the distributor of ICONICS products in the UK, has its own cloud application development and SaaS² business.

Mitsubishi Electric and ICONICS plan to leverage ICONICS UK’s technology and know-how to establish a Circular Digital-Engineering business model for factory-automation solutions that optimize factory equipment and systems. ICONICS UK’s user-experience (UX), ³ cloud-related technical assets, and engineers will support the development of integrated solutions that collect on-site production data and then reproduce, analyze and apply the data in digital space. Benefits include improved productivity and quality as well as reduced total cost of ownership (TCO).⁴

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1 Software combined with programmable logic controllers and other automation products to monitor and gather data from productions sites
2 Software as a Service for subscription-based licensing and delivery of centrally stored software that is packaged as products
3 Experiences and impressions that individuals gain when they use certain products
4 All costs for installing, maintain and manage computer systems