Symphony IndustrialAI Acquires Digital Manufacturing Leader Savigent
WOBURN, Mass., March 9, 2021-- Symphony IndustrialAI announced today the acquisition of IIoT and digital workflow orchestration leader Savigent. This acquisition further advances Symphony IndustrialAI's initiatives into plant and supply chain processes. The combination of Savigent connected factory and process optimization capabilities and Symphony IndustrialAI solutions based on its advanced EurekaAI technology platform will help process and discrete manufacturing customers significantly improve process efficiency, yields, quality, and energy consumption.
Customers realize tremendous value through Savigent's ability to easily and quickly connect disparate systems and equipment within factories, provide the required visibility to enable improved decision-making, and drive costly variability and inefficiencies out of a vast array of manufacturing processes. Symphony IndustrialAI will enhance Savigent's low-code platform and real-time IoT data capture and work orchestration technologies with AI optimization technologies. Savigent will drive additional value for Symphony IndustrialAI's existing condition monitoring, asset performance management, and predictive maintenance solutions.
"Savigent has experienced tremendous growth over the last few years, and the combination of the Savigent process optimization platform and Symphony IndustrialAI's EurekaAI platform and solutions will increase value for Savigent customers," said Symphony IndustrialAI Chief Executive Officer Dominic Gallello. "Together, we will deliver additional optimization and analytics capabilities and accelerate our global expansion. The solutions we can provide our customers, partners, and the industrial community are very compelling."
"The Savigent platform is a critical component in driving IT-OT convergence as it provides the required visibility across manufacturing operations and the ability to deliver higher-value applications. The demand for solutions to rapidly transform manufacturing operations and achieve measurable benefits has never been greater," said Savigent CEO Dean Truitt. "The potential to further improve process operations through Symphony IndustrialAI technologies and AI capabilities is a critical component of next-generation digital manufacturing."
"This is a tremendously exciting opportunity for both Savigent and Symphony IndustrialAI that will strengthen the ability for manufacturers to deliver on the promise of Industry 4.0," said John Dyck, CEO of CESMII, the Clean Energy Smart Manufacturing Innovation Institute. "This combination will significantly extend Savigent's next-generation manufacturing operations capabilities into AI, machine learning, manufacturing materials, and process optimization."
Symphony IndustrialAI is a SymphonyAI company. The acquisition of Savigent is part of SymphonyAI's strategy to build leading vertically focused companies that deliver the highest value to customers with next-generation AI solutions for revenue growth and operational excellence.
Bryan Cave Leighton Paisner LLP served as legal advisor to Symphony IndustrialAI in connection with the transaction. Stinson LLP and Hennepin Partners served as legal and financial advisors to Savigent.
About Savigent
Savigent transforms manufacturing by enabling global manufacturers to excel in an increasingly competitive and unpredictable global marketplace. Its next-generation manufacturing operations solution is an IIoT and workflow orchestration platform that simplifies complex manufacturing by thinking and acting differently. Savigent empowers companies to accelerate their digital journey, drive operational change, rapidly scale capabilities, and achieve sustainable improvement across their enterprise.
About Symphony Industrial AI
For more than 50 years, Symphony IndustrialAI has been the leading innovator of industrial insight, from machine component health to plant performance optimization. Symphony IndustrialAI solutions span condition monitoring, asset performance management, and predictive maintenance, including software and data acquisition devices. The company's talented and rapidly growing team of deep domain experts in process industries, discrete manufacturing, IIoT, and AI have delivered several innovations and firsts.
Source: Symphony IndustrialAI
