AVEVA Group PLC Acquisition of Asset Performance Management Assets (2036V)
05 Abril 2019 - 12:00AM
UK Regulatory
TIDMAVV
RNS Number : 2036V
AVEVA Group PLC
05 April 2019
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.
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END
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