Brightly Software Inc, US-based asset management software company is to be purchased by Siemens AG for USD 1.58 billion. The transaction is expected to close by the end of the year.
The Siemens Smart Infrastructure division, which provides digital systems used to monitor building security and energy consumption, will integrate Brightly Software. Brightly, according to Siemens Smart Infrastructure, will enable it to grow into the Software-as-a-Service market and offer access to small and medium-sized businesses that would choose to pay a subscription fee over an expensive software license.
SaaS would play a significant role in Siemens’ strategy to break into new markets, according to the company.