Europe’s largest industrial manufacturing company, Siemens, is purchasing Brightly Software from Clearlake Capital for $1.58 billion, hoping to expand its software offerings and expertise in the process. The Siemens Smart Infrastructure segment, which provides digital systems to manage building security and energy consumption, is acquiring Brightly to expand its SaaS offerings and accelerate growth.
North Carolina-based Brightly produces cloud-based software that collects and analyzes data from sensors installed in buildings and assesses when maintenance is needed before a problem occurs. Formerly known as Dude Solutions, the company is a recognized industry leader in enterprise asset management (EAM) software, making it an ideal addition to Smart Infrastructure.
Not only does Brightly bolster Siemens’ SaaS catalog, but it also brings impressive revenue to the company—an expected $180 million in 2022. Brightly’s maintenance asset management software complements its new parent company’s existing offerings in building management software, according to Matthias Rebellius, Chief Executive Officer of the Smart Infrastructure segment. The acquisition will also help the company compete against rivals including Schneider Electric, Alstom, and General Electric.