Categories: PR Newswire

SKF Acquires Industrial AI Company

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

This information was brought to you by Cision http://news.cision.com

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

The following files are available for download:

SOURCE SKF

IR Press

Share
Published by
IR Press

Recent Posts

OCC Issues Annual Report for 2024

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today published its 2024 Annual Report.…

2 days ago

OCC Announces Enforcement Actions for December 2024

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released enforcement actions taken against…

3 days ago

Treasury Maintains Pressure on Houthi Procurement and Financing Schemes

WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned…

4 days ago

Treasury Sanctions Georgian Ministry of Internal Affairs Officials for Brutality Against Protesters, Journalists, and Politicians

WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is…

4 days ago

Treasury Maintains Pressure on Iranian Shadow Fleet

WASHINGTON — Today, the United States Department of the Treasury is imposing sanctions on four…

4 days ago

Treasury Releases Report on the Uses, Opportunities, and Risks of Artificial Intelligence in Financial Services

WASHINGTON – Today, the U.S. Department of the Treasury (Treasury) released a report following the issuance of…

4 days ago