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5 April, 2019 - 12:47 By Tony Quested

Acquisitive AVEVA on cusp of FTSE 100

Cambridge UK engineering software innovator AVEVA, which stands on the cusp of the FTSE 100 magic circle, has unveiled its first acquisition since the mega-merger with Schneider Electric.

The business has agreed to acquire the software assets of MaxGrip, which is anchored in Utrecht but trades globally – a move that provides a significant addition to its comprehensive Asset Performance Management (APM) portfolio – its fastest growing segment.

In H1, AVEVA announced some significant APM wins, including with Aker BP, Air Liquide, MV Werften, Chevron and KBR. Aveva shares are currently trading up 1.23 per cent, or 40p, at 3,292p.

The combination of AVEVA’s portfolio with the capabilities of MaxGrip enables customers to realise high levels of reliability, availability, safety and efficiency in the operations of their capital assets and closes the loop on managing fault scenarios with prescribed remediation actions based on best practices, moving from reactive and predictive maintenance to prescriptive maintenance.

MaxGrip’s software and extensive asset library enables customers to define and implement comprehensive RCM strategies based on asset criticality and risk. 

The libraries encompass over 900 critical asset types with failure causes and conditions and proven maintenance remediations. This represents over 20 years of rich experience in end markets that map closely to the sectors AVEVA serves, with implementations in the oil and gas, chemicals, infrastructure, utilities, food & beverage and water & wastewater industries.

The combination of AVEVA’s portfolio with the capabilities of MaxGrip enables customers to realise high levels of reliability, availability, safety and efficiency in the operations of their capital assets and closes the loop on managing fault scenarios with prescribed remediation actions based on best practices, moving from reactive and predictive maintenance to prescriptive maintenance.

Kim Custeau, vice-president, Asset Performance Management at AVEVA, said:“AVEVA has leveraged the digital twin and advanced asset visualisation capabilities to completely change the way people, processes and technology interact. 

“Combining our strengths in engineering and real-time data coupled with the power of MaxGrip software will enable customers to design for reliability, in a way that no other solution in the industry can offer today.”

Jakob Boelens, CEO of MaxGrip, added: "We have worked for many years together with AVEVA to bring innovative APM technology into customers’ operational facilities where they quickly realise quantifiable business value.”

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