Milwaukee-based Rockwell Automation has acquired Fiix Inc., a privately-held, AI-enabled computerized maintenance management system company.
Founded in 2008, Fiix is headquartered in Toronto.
The company’s cloud-native CMMS creates workflows for scheduling, organizing and tracking equipment maintenance, according a Rockwell announcement.
“It’s not huge from a revenue standpoint, but it’s very, very strategically important,” said Blake Moret, chairman, president and chief executive officer of Rockwell.
Terms of the deal were not disclosed. It is expected to close by the end of 2020.
Fiix grew its revenue 70% in 2019 with more than 85% coming in the form of recurring revenue. The company has more than 2 million assets under management and creates more than 6 million work orders a year.
“We believe that the future of industrial asset management is performance-based,” said Tessa Myers, vice president, product management, Software & Control, for Rockwell Automation. “With the addition of the Fiix platform and expertise, our customers will benefit from a 360-degree view of integrated data across automation, production, and maintenance, helping them to monitor and improve the performance of their assets and optimize how maintenance work is done.”
James Novak, CEO of Fiix, said the company has been on a mission to help maintenance and operations team modernize their work.
“Joining Rockwell Automation will allow us to help even more companies modernize maintenance and increase asset performance by connecting to industry-leading data, automation, and production systems,” Novak said.