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IBM Acquires Oniqua, Strengthens its IoT Capabilities

IBM Acquires Oniqua, Strengthens its IoT Capabilities

IBM has acquired Denver, the U.S. based Oniqua Holdings to strengthen its Capabilities to Help Businesses Proactively Maintain Vital Assets. Financial terms and conditions were not disclosed.

According to Aberdeen Group, 50 percent1 of annual unscheduled asset downtime can be attributed to the lack of spare parts and stock outs. Monitoring and analyzing data from across a business helps in reducing unscheduled downtimes. Data insights from monitoring assets also helps proactively prepare by ensuring the right spare parts and material are available.

Oniqua is a global innovator in Maintenance Repair and Operations (MRO) Inventory Optimization solutions and services focused on mining, oil & gas, transportation, utilities, manufacturing and other asset-intensive industries. Oniqua's solution is used by the world's leading companies. It provides a single view of the truth for MRO spares inventory.

This acquisition expands IBM's Asset Optimization Practice, helping clients reduce and optimize MRO Inventories, predict when critical parts and equipment might fail so proactive actions can be taken to avoid unplanned downtime.

Enterprise Asset Management (EAM) solutions in the era of IoT deliver constant stream of data from people, sensors and devices. Managing such data is challenging task. IBM solutions such as Maximo and Tririga deal with enterprise asset management and integrated workplace management system respectively.

With the Oniqua acquisition, IBM is growing its asset optimization business with new capabilities that provide one data source around all company assets to ensure 24/7 operational efficiency.

Once Oniqua capabilities are introduced in IBM's existing products, Maximo and Tririga, it will help IBM provide consistency and data accessibility across the business with a central source of trusted information. This will result in capabilities that allow asset-intensive businesses to monitor and manage their assets for predictive and proactive maintenance, but also have the assurance that all critical parts are available when they are needed, minimizing operational downtime.

"Clients are moving from legacy, on-premise offerings to new cloud-based predictive analytics and prescriptive maintenance offerings. But without instant access to the right data, they are still susceptible to critical equipment breakdowns that can cripple their businesses," said Jay Bellissimo, General Manager, Cognitive Process Transformation, IBM Global Business Services. "By combining the world's leading asset optimization solution Maximo with the leading MRO Inventory Optimization solution from Oniqua, we will offer a next generation 'solutions as-a-service' that let businesses easily connect with the data they need so they can forecast equipment failures, optimize spare parts, reduce unplanned downtime and optimize asset maintenance."

Headquartered in Denver, U.S., with offices in Brisbane, Australia, Oniqua currently serves more than 50 of the world's leading companies. As part of the acquisition, IBM Services will acquire from Oniqua a team of professionals with key skills in MRO inventory optimization, data engineering, data science, and predictive and prescriptive analytics.

"Bloated MRO spares inventories, surplus and obsolete parts on the shelf, an endless spend on inventory reduction projects and the negative impact a lack of inventory optimization has on unplanned production downtime. As a result, CEOs and CFOs of leading asset-intensive companies are paying more attention than ever to growing spare parts inventory balances, oftentimes totalling billions of dollars.  Oniqua's solution with IBM's Asset Optimization offerings provides the market with an industry leading platform not offered by any other software company focused on the digital industrial revolution," said Joe Berti, CEO of Oniqua.

This post is subject to the original announcement.


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Mandar Pise Opinions expressed by techsutram contributors are their own. More details

Mandar is a seasoned software professional & Fintech, Cloud, IoT, and Blockchain enthusiast. He writes to benefit others from his experiences. His overall goal is to help people learn about Fintech, Cloud, IoT, AI and Blockchain, and the effects they will have economically and socially in the future.

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