Baker Hughes to Extend Reach with ARMS
Baker Hughes (NYSE: BKR) has signed an agreement to acquire ARMS Reliability, an industrial asset management provider whose reach extends into the mining, power, manufacturing, oil and gas, and utilities sectors.
The acquisition – slated to close in the second quarter of this year – will bolster Baker Hughes’ industrial asset performance management (APM) capabilities, the company noted in a written statement emailed to Rigzone.
“The acquisition of ARMS Reliability emphasizes Baker Hughes’ commitment to empower the digital transformation of our customers’ industrial assets and strategically invest for growth in industrial asset management,” commented Rami Qasem, executive vice president of Baker Hughes’ Digital Solutions segment. “This is another exciting step forward as we look to be the partner of choice and offer our customers a complete set of services across the entire industrial asset lifecycle.”
APM uses data capture, integration, visualization, and analytics to improve physical assets’ reliability and availability, Baker Hughes explained. The company noted that it plans to integrate ARMS Reliability’s asset strategy management, asset reliability services, consultancy experience, and “OnePM” software into Bently Nevada’s “System 1” software platform, which is designed to provide critical plant-wide asset health monitoring and protection. The Bently Nevada product line falls under the auspices of Baker Hughes Digital Solutions.
Baker Hughes also pointed out the ARMS Reliability acquisition will facilitate growth in APM adoption beyond the United States and Australia, where ARMS Reliability currently enjoys strong adoption from its global customer base.
Citing a report by the firm MarketsandMarkets, Baker Hughes pointed out that deploying industrial APM can cut maintenance costs by up to 30 percent, reduce machine breakdowns by up to 75 percent, and decrease downtime by up to 45 percent.
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