APM solutions leverage data capture, integration, visualisation, and analytics to improve the reliability and availability of physical assets. ARMS Reliability’s asset strategy management, asset reliability services, and consultancy experience, along with its OnePM software offering, will integrate into Bently Nevada’s System 1 software platform from Baker Hughes, which provides critical plant-wide asset health monitoring and protection. The combined offering will provide Baker Hughes customers with a full spectrum of APM services to enhance industrial operational efficiencies, extend asset lifecycles, and reduce non-productive downtime.
The acquisition is another step forward for Baker Hughes’ strategy to provide an industrial software platform at scale to deliver outcome-based solutions for highly engineered critical equipment. Baker Hughes will have access to ARMS Reliability's substantial presence in a broad range of industrial sectors including mining, power, manufacturing, and utility companies. ARMS Reliability's global customer base has strong adoption in the US and Australia, and the agreement is expected to drive strong growth in APM adoption in other geographic markets, as well as enabling synergies from a broader combined offering with Bently Nevada.
“The acquisition of ARMS Reliability emphasises Baker Hughes’ commitment to empower the digital transformation of our customers’ industrial assets and strategically invest for growth in industrial asset management,” said Rami Qasem, executive vice president of Digital Solutions at Baker Hughes. “This is another exciting step forward as we look to be the partner of choice and offer our customers a complete set of services across the entire industrial asset lifecycle.”
APM services are deployed in some of the world’s most complex industrial sectors and can deliver up to a 30% reduction in maintenance cost, up to a 75% decrease in machine breakdowns, and up to a 45% reduction in downtime, according to the Asset Performance Management Market Global Forecast to 2025.
The acquisition is expected to close in 2Q21 and will be integrated into the Bently Nevada product line within Baker Hughes’ Digital Solutions segment.
Read the article online at: https://www.hydrocarbonengineering.com/product-news/19022021/baker-hughes-acquires-arms-reliability/
You might also like
Rayonier Advanced Materials Inc. (RYAM) and Verso Energy have entered into a Memorandum of Understanding (MoU) to explore e-SAF.