Siemens in $700m supply chain buy
Siemens to acquire Supplyframe, a leading and fast-growing marketplace for the global electronics value chain, for $700m.
The deal is a 10x multiple on Supplyframe’ revenue of $70m to be the core of Siemens’ digital marketplace strategy and set to close byu the end of the year.
Using Supplyframe’s marketplace intelligence and supply chain management tools will help customers to reduce costs, increase agility and make highly informed decisions, says Siemens. The deal also brings 10m customers designing, source, market and selling products in the global electronics value chain.
The software as a service (SaaS) capability will be included in the Siemens Digital Industries alongside the Xcelerator range of products as well as the PCB, EDA, system and software design tools.
“We are very pleased to welcome Supplyframe’s highly innovative and talented team to the Siemens family. Supplyframe will be the nucleus to accelerate our overall digital marketplace strategy,” said Cedrik Neike, member of the Managing Board of Siemens. “Supplyframe’s ecosystem and marketplace intelligence complements our industrial software portfolio perfectly and strengthens our capabilities for the growing market of small- and mid-size customers.”
“Eighteen years ago, we set out on a journey to intelligently connect the extended electronics value chain. It took both a dedicated team and a visionary customer base to gradually turn our vision into reality. This process has been further accelerated by the recent component shortage environment, which has exposed the fragility of supply chains and created a mandate for digital transformation and intelligent decision making. I am thrilled to join forces with Siemens to scale our innovation and drive broader adoption of our DSI solutions globally. This is an amazing outcome for our customers, partners and employees,” said Steve Flagg, CEO and founder of Supplyframe who will remain as CEO and join the senior leadership team of Siemens Digital Industries.
Founded in 2003, Supplyframe is basedin Pasadena, California with offices in Gernoble, France, Belgrade, Serbia and Oxford, UK as well as Shanghai and Shenzhen in China.
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