Siemens Acquires Brightly Software to Accelerate Growth in Digital Building Operations

Siemens Smart Infrastructure (SI) has signed an agreement to acquire Brightly Software, a U.S.-based software-as-a-service (SaaS) provider of asset and maintenance management solutions. The acquisition elevates SI to a leading position in the software market for buildings and built infrastructure. The purchase price is USD 1.575 billion, plus an earn-out. The acquisition will add Brightly’s cloud-based capabilities across key sectors – education, public infrastructure, healthcare, and manufacturing – to Siemens’ digital and software know-how in buildings. It also accelerates the build-up of Siemens’ SaaS business and enables Siemens and Brightly together to deliver superior performance and sustainability for built infrastructure.

Brightly is expected to benefit from Siemens’ global presence, while Siemens leverages the software provider’s footprint in the U.S. market. Siemens will realize synergies between Brightly’s capabilities and its own portfolio with an expected mid-triple-digit million net present value. The transaction is subject to regulatory approvals, with closing expected in calendar year 2022. The acquisition will be EPS accretive pre-PPA in the second year after closing.

Infrastructure owners and operators are increasingly looking for software that supports more efficient and sustainable operations. Brightly’s established SaaS business and customer base, combined with Siemens’ existing building base and digital portfolio, will facilitate data integration through IT and OT convergence, supporting innovation, unique user experiences and optimized performance for buildings and built infrastructure.

For 2022, Brightly expects to achieve revenues of around USD 180 million. The expected annual recurring revenue (ARR) for 2022 is USD 160 million. Brigthly operates in a market that is growing at a CAGR of 13 percent. The company is headquartered in Cary, North Carolina, and has around 800 employees serving around 12,000 customers, mainly across the U.S., Canada, U.K. and Australia. The company has been owned by private equity firm Clearlake Capital since 2019.