April 25, 2016 / 6:06 PM / in a year

Siemens says will continue to make digital acquisitions

A Siemens logo is pictured on an office building of Siemens AG in Munich May 30, 2014. REUTERS/Lukas Barth

HANOVER, Germany (Reuters) - German industrial group Siemens will continue to buy software companies to beef up its core industrial business, its board member with responsibility for its digital factory division said on Monday.

“Will we continue to invest in acquisitions? Definitely, yes,” Klaus Helmrich told a news conference when asked whether Siemens would continue to buy so-called product lifecycle management software firms at the rate it has been doing.

Siemens agreed in January to buy U.S. engineering software firm CD-adapco for $970 million, the latest in a string of acquisitions of companies that help manage products from inception through to service or disposal.

Reporting by Georgina Prodhan; Editing by Maria Sheahan

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