In a move to expand industrial cloud software offering, Rockwell Automation Inc announced that it has acquired Plex Systems, a cloud-native manufacturing platform for $2.22 billion in cash.
Based in Michigan, Plex offers single-instance, multi-tenant SaaS manufacturing execution systems and supply chain management capabilities.
“This acquisition will accelerate our strategy to bring the Connected Enterprise to life, driving faster time to value for our customers as they increasingly adopt cloud solutions to improve resilience, agility, and sustainability in their operations,” said Blake Moret, Chairman and CEO of Rockwell Automation. He added that this move will also accelerate the company’s software revenue growth and strength annual recurring revenue streams.
Bill Berutti, CEO of Plex said, “We have been a leader in the movement to smart manufacturing and a trusted partner to more than 700 manufacturing companies around the globe. Joining forces with Rockwell is great for our customers, our partners, and our employees as we move to expand our reach and impact and accelerate our mission to bring manufacturing to the cloud.”
The officials said in a statement that Plex will be reported as part of Rockwell’s software and control operating segment. The acquisition is said to be financed with cash and debts, expected to close in the fourth fiscal quarter of Rockwell.