The deal itself will be financed with $300 million of cash on hand and $1.9 million of new debt, about half of which will be short-term debt.
#Plex systems software#
“This is a big market that’s picking up the pace in terms of growth,” Moret said of the smart manufacturing software offerings. “We’ve been looking at Plex as a potential target for quite some time,” Moret said, noting Rockwell was impressed with Plex’s retention rates, presence in important industries and the opportunities to expand into other verticals. Plex brings Rockwell greater cloud computing offerings. Plex designs ERP software that tracks all the. This understanding has been maintained as a priority in their software design ever since. The company, located in Troy, Michigan, understands that the manufacturing business begins on the plant floor, and has since its inception in 2001. Rockwell already has a presence in some of the same software offerings Plex has, but they are primarily on the premise of manufacturers. Plex stands at the forefront of ERP systems innovation. “We’re moving fast because manufacturers are picking up the pace and because we have the opportunity to leap ahead with new value,” Moret said. Moret called the deal “the next big step” in Rockwell’s transformation. The deal is expected to close in Rockwell’s fourth quarter. Rockwell executives said the deal would accelerate by two years the company’s effort to have 10% of its revenue come from annual recurring revenue. There are 5 companies in the Plex Systems, Inc. has 433 total employees across all of its locations and generates 159.59 million in sales (USD). “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.” is located in Troy, MI, United States and is part of the Architectural, Engineering, and Related Services Industry. “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 Blake Moret, chairman and chief executive officer of Rockwell. Based in Troy, Michigan, Plex has 500 employees, with around 200 working on product development. The company had more than $150 million sales in 2020.
It’s software helps customers connect, automate, track and analyze operations and supply chains.
Plex’s products include advanced manufacturing execution systems, quality, and supply chain management. will pay $2.22 billion to acquire Michigan-based Plex Systems, which offers smart manufacturing software-as-a-service. Last updated on June 29th, 2021 at 10:45 am Rockwell Automation's Milwaukee headquarters.
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