ABB acquires IKS to boost asset management software offering
ABB has agreed to acquire the business of Insert Key Solutions (IKS), a privately owned specialist software provider, adding IKS’ solutions to its recently acquired Ventyx software portfolio. The move will create a comprehensive solution set for asset and work management, maintenance optimization and equipment reliability.
Based in Chadds Ford, Pa., IKS specializes in delivering software solutions for process improvement, increased equipment reliability and operational performance in power generation plants, and transmission and distribution networks. The company has an extensive customer base in the thermal and nuclear power sectors, and a staff of 50 people.
“Insert Key Solutions provides a highly complementary offering to our solutions for the power industry," said Jens Birgersson, head of the Network Management business within ABB’s Power Systems division. “It significantly strengthens our software-based solutions, which optimize equipment reliability, asset health and maintenance services for asset-intensive industries.”
“We are excited to become a part of the Ventyx team and the ABB family. We not only share complementary solutions, but also the same dedication to excellence and customer focus,” said Evan Niemkiewicz, president and CEO of Insert Key Solutions. “This integration enables us to fortify our infrastructure and product lifecycles and to take our solutions to a broader set of industries and geographies. I am confident it is the best path forward for our customers and our company.”
ABB plans to retain the IKS team and will place IKS executives in key roles within the Ventyx team responsible for Asset Suite, eSOMS (asset and operations management software), and IKS solutions.
Ventyx, an ABB company, provides enterprise software, energy markets data and professional services that enable energy, utility, communications and other asset-intensive organizations to optimize operational efficiency and productivity. ABB is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact.