5 Apr 2019 07:00
AVEVA GROUP PLC
Acquisition of Asset Performance Management Assets
AVEVA Group plc ('AVEVA' or 'the Group'), a global leader in engineering and industrial software, announces that it has agreed to acquire the software assets of MaxGrip, subject to approval from MaxGrip's shareholders. MaxGrip, an AVEVA partner since 2017, optimises asset performance with Reliability Centred Maintenance (RCM) solutions.
AVEVA's Asset Performance Management (APM) offering is strongly differentiated. It addresses the broadest dimensions of asset performance management using design and engineering information, real-time and historical operational data, and maintenance execution workflows, together with model-based machine learning for predictive asset analytics.
MaxGrip will augment AVEVA's APM offering by providing a templated approach to asset strategy optimisation and RCM software for risk-based maintenance. Additionally, MaxGrip's rich library of asset fault codes and remediations will enhance the power of AVEVA's predictive asset analytics capabilities and accelerate the deployment of artificial intelligence for prescriptive maintenance. As part of the acquisition, approximately 30 MaxGrip employees will join AVEVA's APM team.
Enquiries:
AVEVA Group plc
Matt Springett, Head of Investor Relations
Tel: 01223 556 676
FTI Consulting LLP
Edward Bridges / Dwight Burden
Tel: 020 3727 1000
Notes to editors
Asset performance management (APM) encompasses the capabilities of data capture, integration, visualisation and analytics tied together to improve the reliability and availability of physical assets. APM includes the concepts of condition monitoring, predictive forecasting and Reliability Centred Maintenance (RCM).
Reliability Centred Maintenance (RCM) is a process to ensure that systems continue to do what their users require in their present operating context. It is used to achieve improvements in fields such as the establishment of safe minimum levels of maintenance. Successful implementation of RCM will lead to increase in cost effectiveness, reliability, machine uptime, and a greater understanding of the level of risk that an organisation is managing.
Risk Based Maintenance (RBM) is a structured methodology for the maintenance of technical systems and assets that considers the criticality of the asset and risk.
Predictive Maintenance techniques are designed to help determine the condition of in-service equipment to estimate when maintenance should be performed. This approach promises cost savings over routine or time-based preventive maintenance, because tasks are performed only when warranted.