SIEMENS AG SPONS ADR - SIEGY STOCK NEWS

Siemens has achieved a significant milestone by obtaining UL listing for a 120-volt, single pole solid-state circuit breaker, making it the first company to do so. This innovative device enhances safety and reliability through its semiconductor-based design that allows for faster current interruption and operates with passive heat management. It is suitable for residential, commercial, and light industrial applications and is made of fully recyclable materials, supporting Siemens’ sustainability goals. The launch signifies a leap towards digital power management.

Clearlake Capital Group has successfully sold Brightly Software to Siemens AG for a total value of $1.875 billion, comprising $1.575 billion in cash and $300 million in earn-out payments. Brightly, a SaaS provider focused on enterprise asset management, has experienced significant growth under Clearlake's ownership, achieving a material increase in annual recurring revenue and expanded EBITDA margins. With over 12,000 clients globally, Brightly is well-positioned for continued success in the asset management software market.

Ohio State Wexner Medical Center and Siemens Healthineers have formed a strategic partnership to enhance patient care and research through advanced imaging and treatment technologies. This five-year alliance will improve access to personalized medical solutions, particularly for obese and claustrophobic patients. Key initiatives include advanced radiation oncology and vascular robotics, with the scheduled opening of an outpatient center in 2023. The collaboration aims to foster breakthroughs in individualized healthcare, leveraging AI and big data for improved patient outcomes.

Clearlake Capital Group has announced the sale of Brightly Software to Siemens AG for $1.575 billion in upfront cash plus $300 million in earn-out payments, totaling $1.875 billion. Brightly, a leader in cloud-based asset management solutions, has seen significant growth, doubling its annual recurring revenue and improving EBITDA margins during Clearlake's ownership. The acquisition is expected to close in the second half of 2022, pending regulatory approvals. Both companies anticipate enhanced operational performance and market leadership in enterprise asset management.

Siemens announced a $54 million investment to enhance its manufacturing capabilities in Texas and California, focusing on electrical equipment for critical infrastructure like EV charging and data centers. The expansion includes a $10 million upgrade in Grand Prairie, Texas, and over $40 million for a new facility in Pomona, California. This initiative aims to create nearly 300 jobs and supports Siemens' goal to produce over 1 million EV chargers in the U.S. in the next four years, showcasing Siemens' commitment to American infrastructure development.

Siemens has introduced a new sustainable EV charging concept, the VersiCharge XL, designed for rapid installation and scalability. This industry-first solution significantly enhances EV infrastructure by leveraging modular design with low carbon materials from Nexii. The charging structure minimizes disruption to existing parking lots and is suitable for diverse environments. Siemens aims to produce 1 million EV chargers by 2025, contributing to the national EV network and supporting community climate goals, with $20 million funding allocated for Georgia this year.

Siemens eMobility announced the Ford Charge Station Pro, an innovative electric vehicle charger for the Ford F-150 Lightning, has received certification under the expanded UL 9741 standard. This charger, with a peak power of 19.2kW, is the first bidirectional-ready EV solution available at retail scale. The station enables Ford Intelligent Backup Power, allowing the F-150 Lightning to act as a power source during outages. Future firmware updates will enhance interaction with the grid, promoting sustainable and reliable home charging.

Siemens Healthineers announced the availability of the CLINITEST Rapid COVID-19 Antigen Self-Test in the U.S. after receiving FDA Emergency Use Authorization. The test provides accurate results in just 15 minutes and can be self-administered by individuals aged 14 and older. The company is supplying millions of tests to the U.S. federal government and various organizations, aiming to enhance COVID-19 testing accessibility during ongoing surges. The tests are also available for purchase online and in stores, including Amazon.com.