Sophisticated models are used in the process industry when fast, reliable and efficient decisions need to be made to improve processes in formulation, product and process design or plant operation and the decision space needs to be searched quickly and effectively. Process Systems Enterprise (PSE) offers model-based solutions for the entire plant lifecycle with a standardized and integrated range of tools. These complement Siemens ' offerings in the process industry and are also intended to further expand Siemens' position as a provider of integrated plant management across the entire lifecycle.

"The combination of highly accurate, predictive models and real-time process data is playing an increasingly important role in the digitalization of operations in the process industry. Process knowledge that is already generated during product and process development is mapped in predictive models and then used to create value in the digitalization environment at every step of the life cycle," says Eckard Eberle, CEO of the Process Automation business unit. "PSE is taking us a decisive step forward here."

Siemens has been working with PSE since June 2018 as part of a strategic partnership. As part of this initiative, new model-based solutions have been developed for monitoring, predicting and monitoring plants, for soft sensing, predicting plant performance, real-time optimization and operator training based on detailed process models.

Siemens intends to acquire 100% of the share capital of PSE and integrate its business into the Process Automation Business Unit, which is part of Siemens Digital Industries. PSE is headquartered in London and currently employs around 160 people worldwide. The transaction is expected to close in the fourth quarter of 2019. Both companies agreed not to disclose financial details of the transaction.