Siemens to invest US$300 million in digitization

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Siemens announced investment projects worth US$300 million aimed at reinforcing its position as a digital company, with expectations to reach annual growth rates of two digits in its software, digital services and cloud platform departments by 2020, both in Mexico and globally. In the 2016 fiscal year, Siemens generated over US$1 billion income for digital services and nearly US$3.5 billion for software solutions, which is equivalent to a 12% increase, way above the annual market growth record of 8.0%. Siemens is now assessing a possible increase in investment for research and development (R+D) while accomplishing a more thorough market penetration in Mexico and other countries during the fiscal year of 2017. The company trusts that the implementation of the cloud platform MindSphere in all of the company's operations, will be a growth propeller to enable Siemens to offer an open operative system for its clients, cloud-based and compatible with the Internet of Things, thus facilitating the development of and work with digital applications and services, as well as data evaluation and usage.