Siemens, the global energy firm with a hub in southwest Charlotte, has agreed to acquire Camstar Systems, a Charlotte-based industrial software and digitalization firm.
Siemens announced the agreement Tuesday, saying that absorbing the 250-employee Camstar will allow it to broaden its product development and production automation services for the electronics, semiconductor and medical device industries.
Camstar, which has workers in Singapore, Malaysia, China and The Netherlands, has about 100 workers in Charlotte. Its workers will become Siemens employees. Camstar, located in Ballantyne, will keep its headquarters office and its name, though it will officially be known as “Camstar, a Siemens Business.”
“The addition of the Camstar team and products represents the latest step in Siemens’ focus on delivering industry leading, comprehensive functionality and the deep expertise needed to support our customers’ digital enterprises,” said Chuck Grindstaff, CEO of Siemens PLM Software.
Camstar CEO Scott Toney said the firm, founded in 1984, has long been a leader in computerized manufacturing systems, particularly in the medical device, semiconductor and electronics sectors.
“Siemens clearly recognizes the value we bring to these segments, and the natural fit we are for their industry strategy,” he said. “We view this as a great benefit for our customers, and we welcome the expanded opportunities that will result from being a part of Siemens.”
The transaction is expected to close in late November; terms were not disclosed.