Rockwell Automation to Acquire Plex Systems for $2.22 Billion in Cash

June 27, 2021


Rockwell Automation, Inc., Milwaukee, WI, has entered into an agreement to acquire Plex Systems, Troy, MI, Plex a cloud-native smart manufacturing platform, for $2.22 billion in cash. Plex has more than 700 customers and manages more than 8 billion transactions per day. its software capabilities will be further differentiated by Rockwell’s global market access, complementary industry expertise, and ability to turn real-time data into actionable insights.

“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,” says Blake Moret, chairman and CEO of Rockwell Automation. “Combining Plex’s cutting-edge cloud technology with Rockwell’s existing software portfolio and domain expertise will add customer value and create more ways to win.  The acquisition also will accelerate our software revenue growth and strengthen our annual recurring revenue streams.”

“Rockwell believes in the power of data and technology to transform manufacturing and industrial operations,” adds Brian Shepherd, senior vice president, software and control, for Rockwell Automation. “Together with the advanced asset maintenance and management capabilities provided by our recent Fiix acquisition, Rockwell will have a strong portfolio of cloud-native solutions for our customers’ production systems upon completion of the Plex acquisition.”

“Plex always has been more than a company,” says Bill Berutti, CEO of Plex. “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.”

Plex will be reported as part of Rockwell’s software and control operating segment, which provides leading hardware and software offerings for the design, operation and maintenance of production automation and management systems. The acquisition will be financed with a combination of cash and short- and long-term debt. Subject to customary closing conditions and completion of regulatory review, the acquisition should close in Rockwell’s fiscal fourth quarter and is expected to accelerate the firm’s annual recurring revenue-goal achievement by approximately two years.

Industry-Related Terms: Hardware
View Glossary of Metalforming Terms

 

See also: Rockwell Automation/Allen-Bradley Brand, Plex Systems, Inc.

Technologies: Management

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