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Yokogawa announces the acquisition of Industrial Evolution, a cloud-based plant data-sharing service provider.
On Jan. 11, 2016, Yokogawa Electric Corporation announced the acquisition of Industrial Evolution Inc., a provider of cloud-based plant data sharing services. The acquisition was carried out through Yokogawa Venture Group Inc., a wholly owned Yokogawa subsidiary that was recently established for the purpose of executing strategic mergers and acquisitions for the industrial automation and control business.
According to the company, expansion of the advanced solutions business in the industrial automation and control field is one of the main strategies set out in Yokogawa’s Transformation 2017 mid-term business plan. Based on Industrial Evolution’s cloud business environment, Yokogawa will provide Data-as-a-Service, an advanced solution that will generate new value for its global customer base.
The financial terms of the acquisition were not disclosed.
Source: Yokogawa Electric Corporation