HomeMetaverseHexagon procures Itus Digital for broadening Asset Performance Management capabilities

Hexagon procures Itus Digital for broadening Asset Performance Management capabilities

-


STOCKHOLM, SwedenApril 4, 2024 /PRNewswire/ — Hexagon, the global leader in digital reality solutions, combining sensor, software and autonomous technologies, today announced the acquisition of Itus Digital, a Roanoke, Virginia-based provider of asset performance management (APM) software.

Itus’s capabilities directly compliment Hexagon’s HxGN EAM platform, as well as other Hexagon products. Asset performance management is an approach to industrial operations that focuses on optimising reliability, improving uptime, and reducing cost.

Itus Digital provides SaaS-based innovative solutions that help optimise the performance of industrial assets. Its APM platform manages the entire asset strategy and digital twin lifecycle to identify and prioritise asset risk exposure, safeguard assets against known failure modes, monitor asset condition and performance and take timely measures when risks increase or threats emerge. The platform is designed for effortless implementation and swift, ongoing optimisation of asset strategies.

“We are excited to welcome Itus Digital to Hexagon,” said Paolo Guglielmini, President and CEO, Hexagon. “This strategic acquisition, combined with our market-leading EAM platform, allows customers to further improve asset reliability and availability, minimising downtime and costs. These solutions provide significant opportunities to customers of any size or within any vertical.”

Itus Digital will be fully consolidated as of today, operating within Hexagon’s Asset Lifecycle Intelligence division. Itus Digital is expected to generate revenues of around 1 MEUR in 2024, growing quickly, with a profitability level initially below that of Hexagon.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

LATEST POSTS

Most Popular Cryptocurrencies on Solana Chain Today – Price Hot Dog, Cucumber Rick, Ridge

Join Our Telegram channel to stay up to date on breaking news coverage Investors anticipate a potential reversal in price actions in the coming week...

XRP Tenacity Sparks Further Advances As Value Exceeds $0.466 Threshold

My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who...

6 Top Meme Coin Early Sales to Purchase Now – Next 10X Digital Currencies to Surge

Join Our Telegram channel to stay up to date on breaking news coverage Meme coins have become a hot topic in the crypto space, with...

Could a Massive Rally Be in the Cards?

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack...

Most Popular