Rockwell Automation has agreed to acquire Fiix, an artificial intelligence-enabled computerized maintenance management system based in Toronto. No financial terms were released for the deal, which is expected to close by the end of 2020. Fiix is backed by several growth equity and venture capital firms, including Georgian Partners and BuildGroup.
MILWAUKEE–(BUSINESS WIRE)–Rockwell Automation, Inc. (NYSE: ROK), the world’s largest company dedicated to industrial automation and digital transformation, today announced that it has entered into an agreement to acquire Fiix Inc., a privately-held, AI-enabled computerized maintenance management system (CMMS) company. Fiix, founded in 2008, is headquartered in Toronto, Ontario, Canada.
As the number of industrial connected assets multiplies, the ability to gain insights from maintenance operations is becoming increasingly important to a manufacturer’s ability to gain competitive advantage. This insight enables another level of productivity in addition to the core automation.
Fiix’s cloud-native CMMS creates workflows for the scheduling, organizing, and tracking of equipment maintenance. It connects seamlessly to business systems and drives data-driven decisions. The company’s revenue grew 70% in 2019 with more than 85% recurring revenue. Fiix has more than 2 million assets under management and creates more than 6 million work orders a year.
“We believe that the future of industrial asset management is performance-based,” said Tessa Myers, vice president, product management, Software & Control, for Rockwell Automation. “With the addition of the Fiix platform and expertise, our customers will benefit from a 360-degree view of integrated data across automation, production, and maintenance, helping them to monitor and improve the performance of their assets and optimize how maintenance work is done.”
James Novak, Fiix CEO, said, “From the beginning, Fiix has been on a mission to connect maintenance and operations teams to the tools, resources, and technology they need to modernize and join the future of maintenance. Joining Rockwell Automation will allow us to help even more companies modernize maintenance and increase asset performance by connecting to industry-leading data, automation, and production systems.”
The addition of Fiix directly aligns with Rockwell Automation’s software strategy. It also enhances Rockwell Automation’s capabilities in its Lifecycle Services business, which provides a full range of industrial automation services to help customers maximize the value of their production assets, systems, plants, and processes. Additionally, it illustrates Rockwell Automation’s focus on helping customers be more sustainable. Through a CMMS, businesses can operate more efficiently, reducing waste and energy use while also saving money.
Fiix will be reported as part of Rockwell Automation’s Software & Control operating segment. The transaction is expected to close by the end of the 2020 calendar year, subject to customary approvals and conditions.
About Rockwell Automation
Rockwell Automation Inc. (NYSE: ROK) is a global leader in industrial automation and digital transformation. We connect the imaginations of people with the potential of technology to expand what is humanly possible, making the world more productive and more sustainable. Headquartered in Milwaukee, Wisconsin, Rockwell Automation employs approximately 23,000 problem solvers dedicated to our customers in more than 100 countries. To learn more about how we are bringing The Connected Enterprise to life across industrial enterprises, visit www.rockwellautomation.com.
Fiix is the software-as-a-service (SaaS) maintenance management platform that combines mobile asset management, work order, and parts management and supercharges it with the most open integration network and AI-driven insights. With Fiix, you can connect shop floor IoT solutions, parts suppliers, contractors, and corporate IT systems quickly and easily to improve the way physical assets and people interact and drive better business outcomes.
There are over 2600 maintenance teams across the world with a strong presence in North America using Fiix to improve communication, asset health, and even sustainability. Learn more at www.fiixsoftware.com.