PSE plans to become part of Siemens
17.9.2019 03:00:00 EEST | Business Wire | Press release
Process Systems Enterprise (PSE), the leading supplier of Advanced Process Modelling (APM) software and services, today announced that it plans to be acquired by Siemens AG in a transaction scheduled to close in Q4 2019. The 160-strong PSE operation will be integrated into the Process Automation Business Unit of Siemens Digital Industries. The current PSE management team will remain in place.
PSE’s advanced process models are used within digital R&D, design and operations in the process industries to help make fast, safe and more efficient decisions through rapid and effective exploration of the decision space. The technology is widely used in the chemicals, petrochemicals, pharmaceuticals and food industries to accelerate innovation, improve process design and operation, streamline R&D and manage technology risk.
PSE’s model-based solutions span the entire process lifecycle via a unified and integrated set of tools. These strongly complement the Siemens portfolio in the process industry sector, and will further strengthen Siemens' position as a leading provider of digitalization technologies.
Eckard Eberle, CEO of the Siemens Process Automation Business Unit says "The combination of high-fidelity predictive models and process data plays an increasingly important role in the digitalization of design and operations in the process industry. It is important to take the process knowledge that is already available in product and process development and to map it in predictive models which can then be used to add value in the digitalization environment in every step of the lifecycle. With PSE we will be even better equipped to meet the specific requirements of our process industry customers."
Costas Pantelides, Managing Director of PSE, says: "We are delighted to become part of the Siemens organisation. Our technology and know-how are highly complementary to Siemens’ products, and our combined portfolio will build on Siemens’ already strong position in digitalization to deliver unprecedented benefits to customers.”
Siemens and PSE collaborated closely for two years before entering a strategic partnership in June 2018, developing new model-based solutions for diverse high-value applications including detailed unit operation design, plant monitoring and performance forecasting, soft sensing, nonlinear model-predictive control and real-time optimisation.
Both companies have agreed not to comment on the financial details of the transaction.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190916005907/en/
Contact information
PSE: Kate Burness +44-20-8563-0888, k.burness@psenterprise.com
Editors: www.psenterprise.com/news/pr190916
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Axo Longevity Raises Oversubscribed $5M Seed Round to Build Europe’s Leading Preventive Health Membership15.9.2026 12:16:00 EEST | Press release
Axo Longevity today announced the close of an oversubscribed $5M seed round to expand its preventive health membership across Europe. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260910642125/en/ Axo Longevity preventive health membership The round was backed by MS&AD Ventures, Izou Partners, LifeX Ventures, Everywhere Ventures, UNQ, 51 Ventures, Cistern Capital and NIAN Sports & Entertainment, alongside angel investors including Dr. Jorge Planas of Clinica Planas Barcelona and Daniel Kulle, former President of H&M and former CEO of Forever 21. Developed to help people understand what is happening inside their body before symptoms appear, Axo Longevity moved from build to live operations in just twelve weeks. The platform is expanding globally, now operating in the United Kingdom, Ireland, Spain, Germany, and the Netherlands, as well as in its first Latin American market, Peru. It is supported by more than 1,400 laboratory
Chiesi Appoints David Khougazian as Group Chief Executive Officer to Lead the Next Phase of Innovation-Driven Growth15.9.2026 12:00:00 EEST | Press release
Chiesi Group (Chiesi) today announced the appointment of David Khougazian as Group Chief Executive Officer (CEO), effective 15 October 2026. David joins Chiesi following a distinguished international career spanning more than 25 years across the global healthcare and life sciences sectors. Most recently, he served as Executive Partner, Growth, and Head of Global Engagement at Flagship Pioneering, where he supported the growth and development of science-driven healthcare companies and worked closely with leadership teams on long-term value creation, partnerships, financing and organizational development. Following a thorough selection process led by the Board of Directors, David will succeed Interim Group CEO Jean-Marc Bellemin, who has successfully led the Group since 15 May 2026, while also continuing in his permanent role as Group CFO. Maria Paola Chiesi, Chiesi Group Chair, commented: “We are delighted to welcome David to Chiesi at a time of strong momentum for the company. Innovati
TOYO Corporation Opens Its Quantum Computers to Japan's Ecosystem15.9.2026 11:32:00 EEST | Press release
IQM Quantum Computers, a global leader in superconducting quantum computers, today announced that TOYO Corporation has purchased a second full-stack quantum computer, IQM Spark. This expands TOYO's quantum footprint and reinforces IQM's commitment to driving quantum acceleration in Japan. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260915747723/en/ TOYO Corporation opens its quantum computers to Japan's ecosystem The Spark system will be installed at TOYO's R&D center in Kiba, Tokyo, and will be operational in early 2027, enabling hands-on learning from fundamental quantum computing education to algorithm validation and verification. This announcement follows TOYO's earlier acquisition of an IQM Radiance 20-qubit quantum computer, planned for installation at the end of 2026 at the Global Research and Development Center for Business by Quantum-AI technology (G-QuAT), a research facility operated by the National Institute o
Smartstream Further Enables Collateral Teams with Instant Answers and Controlled Automation through New MCP Servers15.9.2026 11:00:00 EEST | Press release
Smartstream, the trusted data solutions provider for leading global financial institutions and enterprises, today announces two new Model Context Protocol (MCP) servers for Smart Collateral, enabling dynamic, agentic collateral operations. Firms can connect an MCP-compatible AI assistant directly to their collateral management platform and interact with it conversationally, giving teams instant answers and controlled workflow automation while retaining full governance and oversight. Collateral operations have grown steadily more complex. As margin requirements rise and regulatory expectations continue to evolve, financial institutions are under pressure to lower operational risk and raise efficiency across the collateral lifecycle. Yet when markets move quickly, teams must still assemble a picture from several systems before they can act on it, while manual steps that would benefit from automation wait on scarce development resource. AI adoption is expanding across these organisations,
More Than Half of Global Businesses Want Greater Control Over Their Data in Latest Digital Sovereignty Push, According to Expereo15.9.2026 11:00:00 EEST | Press release
Businesses around the world are seeking greater control over their data as growing concerns around AI, security and compliance push digital sovereignty higher up the boardroom agenda, according to the latest IDC InfoBrief commissioned by Expereo*. More than half (53%) of enterprises say they want greater control over sensitive and strategic data, while 33% of global organizations now view digital sovereignty as a top or high priority. The research also found that 30% rank it among the leading drivers of technology investment, highlighting how governance, risk and compliance considerations are becoming increasingly important as organisations scale AI and cloud initiatives. The findings suggest organizations are looking beyond traditional approaches to data governance as they seek to better manage risk, regulatory obligations and operational resilience. Security and privacy concerns remain a significant barrier to AI adoption, cited by 58% of enterprises, while 54% of technology leaders
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom