Equity investment made in software company
Mitsubishi Electric Automation Inc. has made a 19.9 percent equity investment in the U.S. software company Iconics. The move enables Mitsubishi Electric to incorporate Iconics’ supervisory-control and data-acquisition (SCADA) software in factory and process automation solutions, primarily for new social infrastructure opportunites in emerging markets.
Mitsubishi Electric will also work with Iconics to develop and market energy management and control solutions for factory and process automation applications in key emerging markets, such as China, Southeast Asia, India and Brazil, which are raplidly developing infrastructure for ground and air transportation, water and waste water treatment, building facilities and more.
The company expects sales of factory automation solutions for infrastructure projects in emerging markets to reach $130 million, in the fiscal year ending in March 2014.
Mitsubishi Electric Automation Inc.
– Edited by Chris Vavra, Control Engineering, www.controleng.com
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