Siemens to buy IndX Software

Siemens AG intends to acquire IndX Software Corp., a maker of software that allows large industrial manufacturers to aggregate, relate and present operational and business data in a useful format and in real time, Siemens said Monday.

IndX is to become part of Siemens Energy & Automation Inc., an Alpharetta, Georgia-based part of Germany's Siemens, the company said in a statement. The value of the deal was not disclosed.

A takeover agreement has been signed and the deal is expected to close before the end of the year, pending IndX shareholder approval, a spokeswoman for IndX said. Investors in privately-held IndX include Cargill Ventures, Siemens Venture Capital and SAP Ventures, she said.

IndX, based in Aliso Viejo, California, was established in 1996 and sells its XHQ software to large companies, especially in the oil and gas sectors. Customers include ChevronTexaco Corp. and Exxon Mobil Corp., according to the company's Web site. IndX employs approximately 50 people and has about 15 customers, the spokeswoman said.

Similar to business intelligence software, XHQ aims to let businesses to run their production more efficiently by providing a common view of business and transactional data from various parts within a company.

Siemens Energy & Automation is part of Siemens' Industrial Solutions and Services Group, which sells and installs various types of systems for several vertical industries in the manufacturing space. The offerings include power supplies, air conditioners and ERP (Enterprise Resource Planning) systems, according to the company's Web site.

IDG News Service

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