In this Research Note, we examine the building automation business of ICONICS Inc., a group company of Mitsubishi Electric, based on their latest acquisition, smart buildings portfolio, and Microsoft partnership. ICONICS Inc Founded in 1986 and headquartered in Foxborough, Massachusetts USA, ICONICS Inc. is a global software developer focused on SCADA, IoT, mobile, analytics, and cloud software products. With installations running in over 100 countries worldwide and over 70% of Global 500 companies, their software is recommended for automating, monitoring, and optimizing a customer’s most critical assets. The company provides advanced, web-enabled and OPC UA-certified HMI/SCADA, analytics, and IoT software solutions for energy, manufacturing, industrial, and building automation applications. According to LinkedIn, the company has 230 employees. Mitsubishi Electric Ownership ICONICS Inc. was acquired by Mitsubishi Electric in May 2019. At that time, Mitsubishi Electric aimed to enhance its software product lineup to realize e-F@ctory, including edge computing, by combining their software-developing capabilities and Mitsubishi […]
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