ICIS Technology sold to Siemens

Siemens Power Generation Group has acquired ICIS Technology Ltd, a provider of software solutions for market-oriented power plant management and power trading in Britain, for an undisclosed fee.

Through its British regional company the Siemens Power Generation Group (PG) has acquired ICIS Technology Ltd, a provider of software solutions for market-oriented power plant management and power trading in Britain.

According to Siemens, the acquisition of ICIS will give PG additional technological strength and significantly improve its position in the British energy market.

The most important product provided by ICIS is the PANACeA software system that monitors, evaluates and trades power. The software suite reportedly provides power producers with the ability to achieve optimum unit commitment in the power market.

ICIS Technology Ltd, as a unit within the Instrumentation & Controls Division of Siemens Power Generation, will primarily serve the British market but also support international marketing of ICIS products.

ICIS Technology, with headquarters in Harrogate in northern England and a further location in Cirencester in the west of England, has a work force of 127 and posted sales totalling 17 million Euros in the last fiscal year. The purchase price has not been disclosed.