News Releases

Mitsubishi Electric to Acquire ICONICS, Inc. in United States Will enhance software product lineup to strengthen e-F@ctory FA-IT integrated solution

FOR IMMEDIATE RELEASE No. 3282

TOKYO, May 13, 2019 – 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.

*1Supervisory 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.
*2e-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.

About ICONICS

Company name	ICONICS, Inc.
CEO	Russell L. Agrusa
CFO	James L. Kent
Location	100 Foxborough Boulevard, Foxborough, MA 02035, USA
Foundation	June 1986
Business	Software development, sales and services of SCADA, IoT and cloud solutions
Website	http://iconics.com/

Background

As the demand increases for data utilization with IoT technology in manufacturing industries, Mitsubishi Electric─based on its e-F@ctory concept─has been launching software products compatible with the Edgecross^*3 platform. ICONICS has been developing and offering competitive software products for various business sectors, such as industrial automation, and it possesses established technology and remarkable knowledge for the development of industrial software for SCADA, IoT, mobile, analytics and cloud-based solutions.

Mitsubishi Electric, through this acquisition, aims to strengthen its development capabilities by integrating ICONICS' engineering skills, expertise and technology for the development of software products to realize e-F@ctory. Going forward, Mitsubishi Electric will provide various types of software products to meet data-utilization needs in manufacturing industries and thereby contribute to improved manufacturing productivity and quality.