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Rockwell Automation announced that it has entered into an agreement to acquire Fiix Inc., a privately-held, AI-enabled computerized maintenance management system (CMMS) company. Fiix, founded in 2008, is headquartered in Toronto, Ontario, Canada.
Fiix’s cloud-native CMMS creates workflows for the scheduling, organizing, and tracking of equipment maintenance. It connects to business systems and helps to drive data-driven decisions. The company’s revenue grew 70 percent in 2019 with over 85 percent recurring revenue. Fiix has over 2 million assets under management and creates over 6 million work orders a year.
The addition of Fiix directly aligns with Rockwell Automation’s software strategy. It also helps to enhance Rockwell Automation’s capabilities in its Lifecycle Services business, which provides a range of industrial automation services to help customers further maximize the value of their production assets, systems, plants, and processes. Additionally, it adds to Rockwell Automation’s focus on helping its customers to be more sustainable. Through a CMMS, businesses can operate more efficiently, helping to reduce waste and energy use while also helping to lower costs.
Fiix will be reported as part of Rockwell Automation’s Software & Control operating segment. The transaction is expected to close by the end of the 2020 calendar year, subject to customary approvals and conditions.