Siemens Smart Infrastructure (SI), part of Siemens, has signed an agreement to acquire Brightly Software, a U.S.-based software-as-a-service (SaaS) provider of asset and maintenance management solutions. The purchase price is $1.575 billion, plus an earn-out, the companies said in a statement.

The transaction is subject to regulatory approvals, with closing expected in calendar year 2022.

Brightly Software is headquartered in Cary, NC, and has around 800 employees serving around 12,000 customers, mainly across the U.S., Canada, U.K. and Australia. The company has been owned by private equity firm Clearlake Capital since 2019.

Siemens Smart Infrastructure has its global headquarters in Zug, Switzerland. As of September 30, 2021, the business had around 70,400 employees worldwide.

[Image courtesy: Brightly Software]