Siemens Smart Infrastructure (SI), the frontrunner in digital buildings, has announced that it has signed an agreement to acquire Brightly Software, a leading US-based software-as-a-service (SaaS) provider of asset and maintenance management solutions. The acquisition elevates SI to a leading position in the software market for buildings and built infrastructure. The purchase price is US$1.575 billion, plus an earn-out.
Latham & Watkins LLP represents Siemens AG in the transaction with a cross-border corporate deal team led by New York partners James Gorton and Eyal Orgad, with New York associates Daniel Williams and Jordan Wampler, and Munich partner Rainer Traugott, with Munich associate Stephan Hufnagel. Advice was also provided on tax matters by New York partner Matthew Dewitz; on benefits and compensation matters by Los Angeles partner Larry Seymour, with Los Angeles associate Aaron Tso; on labor and employment matters by Chicago partner Nineveh Alkhas; on intellectual property matters by Orange County counsel David Kuiper, with Los Angeles associate Veronica Ye; on real estate matters by Chicago counsel Jeffrey Anderson; on environmental matters by Washington, D.C. partner James Barrett, with Washington, D.C. associate Phil Sandick; on CFIUS matters by Washington, D.C. partner Les Carnegie, with Washington D.C. associates Zachary Eddington and Ehson Kashfipour; on antitrust matters by Washington, D.C. partners Michael Egge and Jason Cruise, with Washington D.C. associate Doug Tifft; and on insurance matters by Los Angeles partner Drew Levin, with San Diego/Los Angeles associate Hannah Cary.