Rockwell Automation (NYSE: ROK), which is based in Milwaukee, Wisconsin, said on Friday it has struck a deal to buy software company Plex Systems for $2.2 billion in cash. Rockwell said the deal was slated to close in its fiscal fourth quarter ending in September.
Plex’s platforms helps its more than 700 customers connect, automate, track and analyze their operations and supply chains. Plex, which was founded in 1995, manages more than 8 billion transactions a day. Plex’s single instance, multi-tenant software-as-a-service (SaaS) platform will be integrated with Rockwell’s global market access, industry expertise and its ability to turn data into actionable items.
Last year’s pandemic spurred businesses of all sizes to put more of their SaaS applications, such as Microsoft Office 365 and Salesforce, into the cloud. The cloud also enables organizations to automate their operations and supply chains while monitoring them remotely.
“This acquisition will accelerate our strategy to bring the Connected Enterprise to life, driving faster time to value for our customers as they increasingly adopt cloud solutions to improve resilience, agility, and sustainability in their operations,” said Rockwell Automation Chairman and CEO Blake Moret. “Combining Plex’s cutting-edge cloud technology with Rockwell’s existing software portfolio and domain expertise will add customer value and create more ways to win. The acquisition will also accelerate our software revenue growth and strengthen our annual recurring revenue streams.”