Market Overview

SKF Acquires Industrial AI Company

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GOTHENBURG, Sweden, Oct. 7, 2019 /PRNewswire/ -- SKF has signed an agreement to acquire Presenso Ltd., a company that develops and deploys artificial intelligence (AI)-based predictive maintenance software. Presenso's AI capability enables production plants to find and act on anomalies that were previously difficult to detect, automatically and without the need to employ data scientists. Presenso's competence will be used to strengthen SKF's Rotating Equipment Performance offer.

Victoria Van Camp, CTO and President, Innovation and Business Development, says: "SKF is all about reliable rotation, technology leadership and solving real world challenges. Today, we are welcoming a team of world-class AI developers, with a production-ready analytics solution into SKF. Together we will change the way industry looks at reliability and make AI an integrated part of production."  

Presenso is based in Haifa, Israel. The acquisition is subject to certain regulatory approvals and is expected to be completed during Q4 2019.

Aktiebolaget SKF
(publ)

For further information, please contact:
PRESS:
Theo Kjellberg,
Director, Press Relations
tel: +46-31-337-6576, mobile: +46-725-776576,
e-mail: theo.kjellberg@skf.com

INVESTOR RELATIONS:
Patrik Stenberg,
Head of Investor Relations
+46-31-337-2104; +46-705-472-104;
patrik.stenberg@skf.com

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https://news.cision.com/skf/r/skf-acquires-industrial-ai-company,c2926432

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SOURCE SKF

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