Siemens buys US firm Dotmatics for $5.1 bn in AI software push
Summary
Siemens said the acquisition was "complementary" to its expansion into Life Sciences and would lift its game in a market needing more medication innovation as populations age. "These trends underscore the need for digital transformation, with software spending expected to double over the next five years," Siemens said in a statement. Siemens recently bought another US software firm also using AI, Altair Engineering, for $10 billion. Docmatics, founded in 2005 and with a workforce of 800 people, presents itself as a leader in R&D software, and has a platform using AI to accelerate drug research. Siemens, Germanys second-biggest company by market capitalisation, has been seeing increased revenues from its software division as its digital products for factories face a slump.
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