Yokogawa Electric Corporation has announced the acquisition of Industrial Evolution Inc. to, it says, strengthen its provision of advanced solutions to the process industries. The acquisition of Industrial Evolution, a provider of cloud-based plant data sharing services, was carried out through Yokogawa Venture Group Inc., a wholly owned Yokogawa subsidiary that was recently established for the purpose of executing strategic mergers and acquisitions for the industrial automation and control business.
Expansion of the advanced solutions business in the industrial automation and control field is one of the main strategies set out in Yokogawa’s Transformation 2017 mid-term business plan. According to Yokogawa, based on Industrial Evolution’s cloud business environment, Yokogawa will provide Data-as-a-Service (DaaS), a solution that will generate new value for its global customer base.
Using its cloud-based DaaS technology, Industrial Evolution collects real-time process data from devices and systems at a variety of industrial facilities, and provides this in a direct or customized form to the companies that operate such facilities as well as their customers and vendors. Industrial Evolution’s service is capable of collecting data from firewall protected systems and securely shares this with authorized users via website or mobile access.
“At Yokogawa, we are committed to sustaining growth with our customers by identifying the challenges that they face in their businesses and working with them to present solutions that add new value," said Satoru Kurosu, a Yokogawa director and executive vice president who heads the Solutions Service Business Headquarters. "In the industrial segment, Industrial Evolution is a pioneer in the utilization of IoT, and their technology will allow us to expand our range of solutions and provide new value to our customers.’’
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