Press release

Mitsubishi Electric to Acquire ICONICS, Inc. in United States

Sponsored by Businesswire

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.
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.


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

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