Siemens to Buy Buildings Software Firm Brightly for $1.6 Billion

Siemens AG will buy US firm Brightly Software for $1.58 billion to add digital services for buildings and infrastructure as the German company continues its transformation into a software provider.

Brightly, owned by private equity firm Clearlake Capital Group LP since 2019, will bolster Siemens’ growth targets for digital and software revenue, Siemens said Monday. The Cary, North Carolina-based company expects revenue of $180 million this year.

“Brightly will enable us to leapfrog to the next level of performance for buildings,” Matthias Rebellius, head of Siemens’ Smart Infrastructure unit, said in a statement. “The acquisition will speed up our ...