Foxborough, MA – May 24, 2019 – On May 13, Mitsubishi Electric, a long-time ICONICS partner, announced that it would acquire 100% of the outstanding shares of ICONICS, Inc. Mitsubishi Electric and ICONICS together will provide a wide range of software solutions to meet the demanding requirements of the manufacturing, factory automation, industrial production, smart buildings, facilities, and infrastructure markets.
"Under the joint agreement, ICONICS business will continue to be the open software platform it has always been, with no changes in management and product strategy, nor changes to our sales channels," said Russ Agrusa, ICONICS CEO, and Satoshi Takeda, Senior Deputy General Manager of Nagoya Works, Mitsubishi Electric.
"We are committed to our valued customers and our existing business partnerships and agreements that we have with our resellers, OEMs, and system integrators," continues Agrusa. "ICONICS will continue to operate and do business as ICONICS in the same Foxboro, Massachusetts USA HQ location under the ICONICS brand selling the same ICONICS products and software. We are totally committed to continuing our advanced product development and we have plans to enhance the ICONICS suite of products for many years to come. The opportunity to greatly increase our presence in the fast-growing markets of Japan, Asia, and other locations around the world is significant. I feel that there is a massive growth potential for our IoT, SCADA, Analytics, Historian, and cloud software products and services for ICONICS, as well as for our partners."
Commonly Asked Questions:
Q: ICONICS has always been an advanced technology software company. Will this change?
ICONICS will increase its R&D and stay focused on its core markets. There is no change planned to our business. We will remain ICONICS in both company and name.
Q: Will there be any change to the management leadership?
There are no plans for any changes to management. Russ Agrusa will continue as CEO for years to come and the entire management team will remain as well.
Q: Will Mitsubishi change ICONICS products and diminish their capabilities?
Mitsubishi will increase the ICONICS product presence and plans to increase worldwide adoption through investments in product development, marketing, and sales.
Q: Will there be any change in ICONICS business strategy and direction?
There are no plans for any changes to our business and sales strategy except to greatly increase that in markets where we have little presence.
Q: Will ICONICS products continue to be an open platform using industry standards?
ICONICS has always been, and will continue to be, an open platform for our customers and partners.
Q: What are the opportunities for ICONICS independent System Integrators?
There will be many new project opportunities for our System Integrators through this partnership, as we will now be able to leverage business opportunities with an expanded footprint that we haven't been able to access in the past.
Q: Will there be any changes to the ICONICS Worldwide Customer Summit planned for March 31–April 3, 2020?
We are planning a bigger-than-ever event under the ICONICS brand. Email WWCS2020@iconics.com to stay informed of updates. We look forward to seeing you there!
We are excited about exploring this expanded potential together with you. Read the full press release HERE. Please email us with any questions.