April 25, 2016 / 6:06 PM / in 2 years

Siemens says will continue to make digital acquisitions

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.

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

“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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