Siemens is acquiring J2 Innovations (J2), a leading software framework provider for building automation and IoT, headquartered near Los Angeles, California.
The company has been a successful player in the Internet-of-Things (IoT) software business for 10 years, building a strong reputation in the US and internationally with its FIN (Fluid INtegration) Framework technology. Both parties have agreed not to disclose financial details. The transaction is expected to close by the end of May 2018.
"J2 Innovations stands for speed, agility and a state-of-the-art software framework that made the company successful," said Uwe Frank, CEO of Siemens Building Technologies Control Products and Systems. "This move complements our growing digital portfolio and will help us to become the leading driver of digital transformation by offering even better IoT solutions to our customers."
Through the acquisition the two parties are planning to further expand J2's OEM business globally, with new hires in the U.S., and new offices in Europe and Asia. To maintain their agility, J2 Innovations will be managed as an independent legal entity and wholly-owned subsidiary of Siemens Industry, Inc.
"Together with a strong partner like Siemens, we are well equipped and excited to take J2 and the FIN Framework to the next level," said Jason Briggs, President and CEO of J2 Innovations.
FIN is a next-generation software framework to operate, monitor and control equipment and automation systems for small to large buildings. It works as seamlessly on a tablet and a smartphone as it does on a desktop and is deployable in embedded systems, servers and the cloud.
For OEMs, FIN provides a fully customizable software framework to speed up their time-to-market, using latest technology. For system integrators, FIN's intuitive interface and strong engineering tools reduce labor and time required to design and commission building automation systems. For end users such as building owners and facility managers, FIN saves operating and energy costs while providing comfort and availability.
FIN is used in over 20 countries with thousands of installations globally, including offices, high rise buildings, education campuses, hospitals, data centers and many other building types.
Siemens Building Technologies is heavily investing in secure digital products and solutions to drive the digital transformation of buildings and the building industry, with 80,000 connected buildings and 400 million data values analyzed per day.
For further information on the Building Technologies Division, please see www.siemens.com/buildingtechnologies
Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for 170 years. The company is active around the globe, focusing on the areas of electrification, automation and digitalization. One of the world's largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of efficient power generation and power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry. With its publicly listed subsidiary Siemens Healthineers AG, the company is also a leading provider of medical imaging equipment – such as computed tomography and magnetic resonance imaging systems – and a leader in laboratory diagnostics as well as clinical IT. In fiscal 2017, which ended on September 30, 2017, Siemens generated revenue of €83.0 billion and net income of €6.2 billion. At the end of September 2017, the company had around 377,000 employees worldwide. Further information is available on the Internet at www.siemens.com