Mitsubishi Electric to acquire remaining shares of ICONICS (building-automation software)

Mitsubishi Electric announced it will acquire the remaining shares of U.S. software company ICONICS, making it a wholly owned subsidiary; the deal is subject to regulatory approval and expected to close by March 2020. Building-automation/industrial software M&A, outside core home-service trades.

“Mitsubishi Electric Corporation announced that it will acquire the remaining shares of ICONICS Inc. ICONICS is a U.S. software company focused on SCADA, IoT, mobile, analytics, and cloud software products for the manufacturing, industrial, and building-automation markets. The company will be a 100% subsidiary within the Mitsubishi Electric Group.”

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