The deal will strengthen efforts by Siemens on smart city and infrastructure technology. Brightly, which sells its technology to public agencies, schools and hospitals, has some 12,000 clients
Siemens Smart Infrastructure says it is buying Brightly, a software company whose clients include schools, governments and hospitals, for $1.575 billion in a deal meant to boost Siemens’ smart city technology and related efforts.
Brightly products will assimilate into the Siemens portfolio, including products that back the operation of smart cities and sustainable communities, covering such areas as autonomous buildings, capital planning and energy management. Brightly software also is used by manufacturers.
As Seimens put it in a statement, the deal “elevates (Smart Infrastructure) to a leading position in the software market for buildings and built infrastructure. Brightly is expected to benefit from Siemens’ global presence, while Siemens leverages the software provider’s footprint in the U.S. market.”
The deal still needs regulatory approvals, with closing expected later this year. Private equity firm Clearlake Capital has owned Brightly since 2019.
Earlier this year, in an example of how Siemens is operating in the government technology industry, North Carolina officials touted a factory in that state where the company makes electric vehicle chargers for buses, trucks and other large vehicles.In announcing the Brightly deal, Roland Busch, president and CEO of Siemens AG, described the next steps for Siemens.
“By combining the real and digital worlds, we provide our customers with the technology required to drive their digital transformation to create the most sustainable and human-centric buildings,” he said in the statement. The “acquisition bolsters our growth targets, especially for digital revenue and software as a service.”The combination of Brightly and Siemens technology will also facilitate data integration and better performance for buildings and built infrastructure, according to that statement.
“Brightly will enable us to leapfrog to the next level of performance for buildings. With seamless data exchange between our offerings, our customers can expect enhanced efficiency, lower downtimes and maintenance costs, shorter life cycles, better data-driven decisions and more satisfied tenants,” Matthias Rebellius, CEO of Siemens Smart Infrastructure, said in the statement.
Brightly expects revenue of about $180 million this year, with annual recurring revenue of $160 million. Brightly, headquartered in North Carolina, has some 800 employees and 12,000 clients.