Schneider Electric has an agreement to acquire InStep Software, a provider of performance management and predictive analytics software, adding to the Paris-based electrical manufacturer’s growing play in industrial software.
InStep, based in Chicago, provides two primary software solutions – eDNA historian software collects, stores, analyzes and reports on real-time operational and machinery sensor data, while its PRiSM predictive analytics software monitors the health and performance of critical assets using advanced pattern recognition and diagnostics techniques to identify subtle deviations in behavior that signal imminent failures. The company also has EBS energy management software for the university market to reduce energy costs by analyzing energy consumption and streamlining utility billing and cost allocation.
The new capabilities will add to Schneider’s offering, building on its acquisition of the Wonderware platform as part of Schneider’s Invensys acquisition last year. Schneider said in a release that eDNA complements its Wonderware Historian software while PRiSM enhances its various asset management software offerings.
“As with other recent acquisitions, InStep Software strengthens our portfolio in targeted industries and segments,” said Rob McGreevy, vice president, information, operations and asset management, Schneider Electric, in a Schneider release. “Their solutions give us additional, stronger data management and predictive analytics capabilities in the power and energy management industries, including power transmission and distribution, and will help us fulfill our strategic plans around Big Data, the Internet of Things and other emerging trends. With InStep, we strengthen our reputation as an industry game changer, and we are immediately more competitive in traditional process manufacturing, which fits with our overall strategy of improving our access to the utilities market in North America.”
