Siemens to acquire U.S.-based Supplyframe for $700 million

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The Siemens logo is shown on a new Siemens Charger locomotive as it comes into service as part of the Coaster Fleet in Oceanside, California, U.S., February 8, 2021. REUTERS/Mike Blake/File Photo

FRANKFURT, May 17 (Reuters) - Germany's Siemens (SIEGn.DE) on Monday said it signed an agreement to buy U.S.-based Supplyframe for $700 million.

"Supplyframe's ecosystem and marketplace intelligence complements our industrial software portfolio perfectly and strengthens our capabilities for the growing market of small- and mid-size customers," Siemens board member Cedrik Neike said.

Siemens said the deal would result in synergies amounting to a mid triple-digit million dollar sum.

Reporting by Christoph Steitz Editing by Chris Reese

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