Mitsubishi Electric to Acquire ICONICS, Inc. in United States

Will enhance software product lineup to strengthen e-F@ctory FA-IT
integrated solution

TOKYO–(BUSINESS WIRE)–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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