The acquisition is part of Siemens’ digital transformation said AJ Incorvaia, senior vice president, Siemens Digital Industries Software, Electronic Board Systems , putting Supplyframe as the nucleus for the company’s digital marketplace strategy to provide market intelligence and data to gain insight into interest and activity analysing online research and design behaviour and connect manufacturers, distributors and customers based on real-time data and AI. The platform updates manufacturers on new product introudctions and sourcing and delivers active intelligence, buyer access, configuration, pricing and quoting data to suppliers and distributors and provide commodity intelligence reports to supply chain professionals to assess market dynamics, prices, lead times, demand and design trends, to secure optimal pricing and sourcing.
Customers of both companies will have access to Siemens EDA and PCB products and marketplace intelligence for availability data and purchasing. The software as a service will be scaled up to be applied to other Siemens domains and technologies. Cedrik Neike, member of the Managing Board of Siemens AG. “Supplyframe’s ecosystem and marketplace intelligence complements our industrial software portfolio perfectly and strengthens our capabilities for the growing market of small- and mid-size customers.”
Siemens has agreed to acquire Supplyframe for $0.7bn, with CEO and founder, Steve Flagg continuing as CEO and joining the Siemens Digital Industries Software senior leadership team.