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.
Tagged with acquisition, Siemens