Asset performance management (APM) is certainly the name of the game these days. It’s a prime target for achieving return on investment (ROI) on Industrial Internet of Things (IIoT) projects, and companies are realizing the need to come to the party fully prepared. Following GE’s recent APM grab of Meridium, Schneider Electric has made a move to fill its own APM gaps.
The acquisition of software company MaxEAM extends applications of Schneider Electric’s Avantis Enterprise Asset Management (EAM) Suite—which came to the company through its acquisition of Invensys a few years ago. More specifically, several software modules from MaxEAM enhance the functionality of Avantis.PRO, particularly with regards to work scheduling, task execution and data conversion. The acquisition also adds domain expertise to Schneider Electric’s existing team.
“The strength of our asset management portfolio continues to grow, both organically and through acquisition. MaxEAM enhances the functionality of our Avantis.PRO offering, securing the investment our customers have made in our products,” said Rob McGreevy, global vice president, software, at Schneider Electric. “The addition of MaxEAM subject matter expertise and technology will allow us continued expansion of our industry-leading Enterprise APM platform.”
Though Schneider Electric and MaxEAM have a long-standing business relationship, the acquisition will give customers a single point of contact for support and delivery services, and more closely align future product development.
“Our advanced technology linked to mobile work execution streamlines processes, adding tremendous capabilities for mobile workers,” said Eric Stern, president of MaxEAM. “Schneider Electric’s Enterprise APM platform is the broadest in the market today. I’m excited that our people and technology will be an integral component to the overall offering.”