AI-Enabled Computerised Maintenance Management System Modernises Operations Planning, Management, and Equipment Failure Prediction
Rockwell Automation, Inc. (NYSE: ROK), the world’s largest company dedicated to industrial automation and digital transformation, has announced that it has entered into an agreement to acquire Fiix Inc., a privately-held, AI-enabled computerised maintenance management system (CMMS) company. Fiix, founded in 2008, is headquartered in Toronto, Ontario, Canada.
As the number of industrial connected assets multiplies, the ability to gain insights from maintenance operations is becoming increasingly important to a manufacturer’s ability to gain competitive advantage. This insight enables another level of productivity in addition to the core automation.
Fiix’s cloud-native CMMS creates workflows for the scheduling, organising, and tracking of equipment maintenance. It connects seamlessly to business systems and drives data-driven decisions. The company’s revenue grew 70% in 2019 with more than 85% recurring revenue. Fiix has more than 2 million assets under management and creates more than 6 million work orders a year.
“We believe that the future of industrial asset management is performance-based,”
said Tessa Myers, vice president, product management, Software & Control, for Rockwell Automation.
“With the addition of the Fiix platform and expertise, our customers will benefit from a 360-degree view of integrated data across automation, production, and maintenance, helping them to monitor and improve the performance of their assets and optimise how maintenance work is done.”
James Novak, Fiix CEO, said,
“From the beginning, Fiix has been on a mission to connect maintenance and operations teams to the tools, resources, and technology they need to modernise and join the future of maintenance. Joining Rockwell Automation will allow us to help even more companies modernise maintenance and increase asset performance by connecting to industry-leading data, automation, and production systems.”
The addition of Fiix directly aligns with Rockwell Automation’s software strategy. It also enhances Rockwell Automation’s capabilities in its Lifecycle Services business, which provides a full range of industrial automation services to help customers maximise the value of their production assets, systems, plants, and processes. Additionally, it illustrates Rockwell Automation’s focus on helping customers be more sustainable. Through a CMMS, businesses can operate more efficiently, reducing waste and energy use while also saving money.
Fiix will be reported as part of Rockwell Automation’s Software & Control operating segment. The transaction is expected to close by the end of the 2020 calendar year, subject to customary approvals and conditions.