IBM announced the acquisition of Prescinto, a provider of asset performance management (APM) software-as-a-service (SaaS) for renewables. Prescinto’s capabilities leverage AI to enable advanced monitoring, analytics, and automation to streamline renewable energy operations and manage clean energy and storage assets.
The acquisition of Prescinto will enhance the capabilities of IBM Maximo Application Suite (MAS), IBM’s solution for asset lifecycle management.
IBM MAS is an integrated asset lifecycle management (ALM) solution for asset monitoring, management, predictive maintenance, and reliability that uses AI, IoT, and analytics to optimize performance, extend the life of assets, and reduce operational downtime and costs. According to the IDC, Worldwide Asset Life-Cycle Management Applications Market Share, (doc #US52190725, June 2024) report, IBM is ranked number 1 for 2023 market share in ALM with a share of 10.8 percent in 2023.
Prescinto, founded in 2016 by Puneet Jaggi, Anmol Jaggi & Sanjay Bhasin and headquartered in Bangalore, India, works with and services global customers across 14 countries with 16 GigaWatts under management. Prescinto’s APM capabilities help organizations simplify operations and maintenance to maximize ROI.
