ITI Group has acquired AssetMinder to enhance its condition-based monitoring solutions, aiming to improve operational efficiency and reduce downtime for clients.
Target Information
ITI Group has recently acquired AssetMinder, a company specializing in condition-based monitoring solutions. This acquisition is part of ITI’s strategy to enhance their service offerings and follows their earlier purchase of Noveum. AssetMinder is recognized for its innovative monitoring solutions that provide real-time insights into the maintenance needs, health status, and energy consumption of various assets.
The CEO of ITI Group, Dominic Murphy, emphasized the importance of modernizing client operations by leveraging technology and data. He stated that AssetMinder's solutions will complement ITI's existing capabilities, providing crucial insights that allow clients to enhance operational efficiency and decrease the frequency of unplanned downtimes.
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Industry Overview
The global condition monitoring market is witnessing substantial growth, driven by increasing demand for predictive maintenance and operational efficiency. I
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