MUNICH (Reuters) – German engineering group Siemens is not planning any more big purchases of industrial software makers, a person close to the company told Reuters.
“We are pretty much done building the house of industry digitalization,” the source said on Thursday.
Siemens has bought a dozen software companies over the past 10 years, mostly in the United States, spending close to 9 billion euros ($9.6 billion) to keep pace with changes to manufacturing technology.
Last month, it agreed to buy U.S.-based Mentor Graphics in a $4.5 billion deal.
(Reporting by Jens Hack; Writing by Maria Sheahan; Editing by Andreas Framke/Keith Weir)