Schneider Electric to acquire InStep Software
Predictive analytics firm to become part of expanding global software offering.
In a press event announcing the acquisition, Schneider Electric officials said InStep's PRiSM software delivers predictive analytics for a growing need in the power and energy management segment. That's a key part of Schneider Electric's expanding software business.
"Their solutions give us additional, stronger data management and predictive analytics capabilities in the power and energy management industries, including power transmission and distribution, and will help us fulfill our strategic plans around Big Data, the Internet of Things and other emerging trends," said Rob McGreevy, vice president, information, operations and asset management, Schneider Electric.
Company officials said the PRiSM software, "Monitors the real-time health and performance of critical assets by using advanced pattern recognition and diagnostic techniques to identify subtle deviations in operating behavior that are often the early warning signs of imminent failures."
Following the acquisition of Invensys a year ago, Schneider Electric has focused its efforts on bringing the two companies together and leveraging the strengths of both organizations. To that end, company officials said the InStep acquisition complements the Wonderware historian software that was part of the Invensys package that was part of the merger.
Overall, company officials said they were pleased with the way Schneider Electric and Invensys have come together, both in terms of product lines and corporate culture. "I think the integration has proceeded extremely well," said Ravi Gopinath, executive vice president of Schneider Electric Global Solutions, Software Business, during his opening remarks at the Software Global Customer Conference.
- Bob Vavra is content manager, Plant Engineering, CFE Media. Edited by CFE Media, Control Engineering, Plant Engineering.
- See more stories from the Global Software Conference below.
- Events & Awards
- Magazine Archives
- Oil & Gas Engineering
- Salary Survey
- Digital Reports
Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey