About: http://data.cimple.eu/news-article/41dfdb49f01a9caa895af148a93643f4c1089ae43b944030c995dfa2

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An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	German industrial giant Siemens on Monday announced the $700 million (575 million euros) acquisition of US firm Supplyframe, a digital platform that specialises in connecting companies along the electronics supply chain. The deal, expected to close later this year, comes as industrial firms are scrambling to cope with global semiconductor shortages spurred by increased demand for consumer electronics during the pandemic. The acquisition will combine Siemens' offerings with Supplyframe's marketplace intelligence to "help customers to reduce costs, increase agility and make highly informed decisions," Siemens said in a statement. California-based Supplyframe was founded in 2003 and forecasts revenues of $70 million for this year. "Eighteen years ago, we set out on a journey to intelligently connect the extended electronics value chain," Supplyframe CEO and founder Steve Flagg said in the statement. "This process has been further accelerated by the recent component shortage environment, which has exposed the fragility of supply chains and created a mandate for digital transformation and intelligent decision making." Siemens expects the purchase to lead to savings amounting to a "mid-triple digit" million dollar amount. mfp/kjl
schema:headline	Siemens buys US firm Supplyframe to boost electronics intel
schema:mentions	Semiconductor Digital media Supply chain Siemens Industry United States dollar Chief executive officer Pandemic Consumer electronics Scrambler Digital transformation
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-05-17 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	88 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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