AVEVA, a global leader in engineering and industrial software, today announced a significant addition to its comprehensive Asset Performance Management (APM) portfolio with the acquisition of the software assets of MaxGrip, subject to approval from MaxGrip’s shareholders. MaxGrip, an AVEVA partner since 2017, is a pioneer in optimising asset performance with Reliability Centered Maintenance (RCM) solutions.
AVEVA to acquire MaxGrip’s software assets
AVEVA’s Asset Performance Management (APM) offering is a key element of the Company’s unique portfolio of asset life cycle solutions enabling digital transformation for its customers. It addresses the broadest dimensions of asset performance management through the use of design and engineering information, real-time and historical operational data, and maintenance execution workflows, together with model-based machine learning for predictive asset analytics, and augmented reality to ensure safe and efficient maintenance activities in the field.
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.
“AVEVA has leveraged the digital twin and advanced asset visualisation capabilities to completely change the way people, processes and technology interact,” said Kim Custeau, Vice President, Asset Performance Management at AVEVA. “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.”
"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.”, said Jakob Boelens, CEO of MaxGrip.
To learn more about AVEVA’s Asset Performance portfolio, visit aveva.com
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.
AVEVA is a global leader in engineering and industrial software driving digital transformation across the entire asset and operational life cycle of capital-intensive industries.