December 1, 2016 / 12:57 PM / a year ago

Siemens not planning any more big software acquisitions: source

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.

Siemens logo is pictured at a building of the manufacturing plant of Siemens Healthineers in Forchheim near Nuremberg, Germany, October 7, 2016. REUTERS/Michaela Rehle

“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

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