Founders Advises Presenso In Acquisition by SKF
DALLAS, TX (November 15, 2019) – Founders is pleased to announce that Presenso Ltd., a company that develops and deploys artificial intelligence (AI)-based software for improving machine performance, has been acquired by SKF. Presenso was exclusively advised on the transaction by Founders Advisors.
Presenso’s AI capability enables production plants to find and act on anomalies that were previously undetectable, automatically and without the need to employ additional data scientists. Presenso’s solution is used by industrial plants to increase production output and revenue by reducing the incidence of unplanned asset downtime.
Presenso, located in Haifa, Israel, built its solution based on innovations in the field of Automated Machine Learning or AutoML. AutoML accelerates the rate of AI deployment, enabling plants to scale industrial analytics across a large asset base. The company’s existing clients include leading industrial manufacturers in Europe and the Americas.
Eitan Vesely, CEO of Presenso, stated that “We are excited to become part of the SKF family and combine SKF’s rotating equipment performance services and Presenso’s industrial analytics solution. We believe that the hybrid of traditional condition monitoring and AI offers industrial plants the best option for deploying Maintenance 4.0.”
“Our team is grateful for the opportunity to serve a very talented Presenso team on this transaction,” said Gene Bazemore, Managing Director of Founders Advisors. “Presenso’s founders, Eitan Vesely, Deddy Lavid and Dr. David Almagor, assembled a world-class team of AI developers and created an industry-leading, production ready analytics solution using advanced Machine Learning algorithms. We look forward to seeing this SKF and Presenso combination change the way industrial manufacturers look at reliability.”
CTO Deddy Lavid (Ben Lulu), Presenso’s CTO will continue to lead Presenso’s R&D center in Haifa.
Founders is a merger, acquisition, & strategic advisory firm serving middle-market companies. Founders’ focuses on helping Founder based companies across business services, consumer, energy, healthcare, industrial, and technology companies located nationwide, as well as companies based in the Southeast across a variety of industries. Founders’ skilled professionals, proven expertise and process-based solutions help companies access growth capital, make acquisitions, and/or prepare for and execute liquidity events to achieve specific financial goals. In order to provide securities-related services discussed herein, certain principals of Founders Advisors, LLC are licensed with M&A Securities Group, Inc. or Founders M&A Advisory, LLC, both members FINRA and SIPC. M&A Securities Group and Founders are unaffiliated entities. Founders M&A Advisory, LLC is a wholly-owned subsidiary of Founders Advisors, LLC. Neither Founders M&A Advisory, LLC nor Founders Advisors, LLC provide investment advice.
Presenso provides AI driven Industrial Analytics tools for Predictive Maintenance. Presenso’s system collects immense amounts of data at very high speed from hundreds of machines (thousands of sensors) and streams the data to the Cloud in real-time. Using unique, proprietary machine learning architectures, Presenso’s analytic engine autonomously interlinks events with components within the machines and ultimately predicts evolving failures. In addition, it provides valuable information about the remaining time to failure and its origin within the machine. These tools are accessible to maintenance and reliability professionals without the need to hire Big Data experts. Presenso solution is available today for both OEM’s which are now developing their Industry 4.0 offerings and to end users operating their own equipment.
SKF’s mission is to be the undisputed leader in the bearing business. SKF offers solutions around the rotating shaft, including bearings, seals, lubrication, condition monitoring and maintenance services. SKF is represented in more than 130 countries and has around 17,000 distributor locations worldwide. Annual sales in 2018 were SEK 85 713 million and the number of employees was 44,428.