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Schneider buys real-time software specialist, InStep

30 September, 2014

Schneider Electric is buying InStep Software, a US provider of real-time performance management and predictive asset analytics software. It says that the acquisition will strengthen the presence of its software division in the power and energy market. Financial terms of the agreement have not been disclosed.

Chicago-based InStep, which was founded in 1995, has around 70 employees. It has two main real-time performance management and predictive analytics software products:

•  eDNA historian software, which collects, stores, analyses, displays and reports on real-time operational and machinery sensor data; and

•  PRiSM predictive analytics software, which monitors the real-time health and performance of critical assets using advanced pattern-recognition and diagnostic techniques to identify subtle deviations in operating behaviour that are often an early warning of imminent failures.

InStep also offers its EBS energy management software, which helps universities to cut their utility bills by analysing energy consumption and streamlining the utility billing, cost allocation and reporting processes.

“Acquiring InStep Software is indicative of our commitment to delivering game-changing technology and powerful new solutions that improve efficiency, manage risk and drive higher levels of customer value,” says Dr Ravi Gopinath, executive vice-president of Schneider’s software business. “They have a proven, experienced team who are dedicated to helping their customers achieve new levels of value, performance and profitability.” This team will continue to run InStep.

Schneider says that the eDNA software complements its Wonderware Historian software. Many companies already use InStep software to manage and analyse operational and machinery asset-health-related information in real time, and its products also complement Schneider’s offerings in industries such as food & beverage, consumer goods, metals & mining, and water & wastewater.

InStep's Prism software monitors the real-time health of critical assets and identifies early signs of imminent failure

“As with other recent acquisitions, InStep Software strengthens our portfolio in targeted industries and segments,” says Rob McGreevy, Schneider’s vice-president for information, operations and asset management. “Their solutions … will help us fulfil our strategic plans around big data, the Internet of Things and other emerging trends.

“With InStep,” he adds, “we strengthen our reputation as an industry game-changer, and we are immediately more competitive in traditional process manufacturing.”

InStep Software’s president John Kalanik, says that “together, our software products will make it easier to bridge the IT-OT gap, empowering our customers to manage the increasing volume and complexity of their industrial operations.”

The transaction is expected to close in the final quarter of 2014, subject to regulatory and other closing conditions.

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