IBM acquires Oniqua to bolster its Industrial IoT business

IBM has acquired Oniqua Holdings Pty Ltd. (Qniqua), the leading provider of IoT solutions and MRO inventory optimization, to strengthens it IoT capabilities to help businesses proactively maintain vital assets. The financial terms and conditions were not released. This acquisition expands IBM’s Asset Optimization Practice, helping clients reduce and optimize MRO Inventories, predict when critical parts and equipment might fail so proactive actions can be taken to avoid unplanned downtime.

Founded in 2000, Qniqua is a global innovator in Maintenance Repair and Operations (MRO) Inventory Optimization solutions and services focused on mining, oil & gas, transportation, utilities, manufacturing and other asset-intensive industries. Qniqua’s focus is on helping asset-intensive companies reduce costs and eliminate waste through advanced analytics and value services. It’s our pursuit and our passion, and one that every Oniqua employee is committed to delivering.

According to Aberdeen Group, 50 percent1 of annual unscheduled asset downtime can be attributed to the lack of spare parts and stock outs. This unscheduled downtime can be reduced simply by monitoring and analyzing data from across a business and using the insights to better prepare by ensuring the right spare parts and material are available when needed.

Today, Oniqua’s solution is being used by the world’s leading companies, providing a single view of the truth for MRO spares inventory. Now through the acquisition of Oniqua, IBM is growing its asset optimization business with new capabilities that provide one data source around all company assets to ensure 24/7 operational efficiency. Oniqua, combined with other IBM solutions such as Maximo and Tririga, will provide consistency and data accessibility across the business with a central source of trusted information. As a result, asset-intensive businesses will not only be able to monitor and manage their assets for predictive and proactive maintenance, but also have the assurance that all critical parts are available when they are needed, minimizing operational downtime.

“Clients are moving from legacy, on-premise offerings to new cloud-based predictive analytics and prescriptive maintenance offerings. But without instant access to the right data, they are still susceptible to critical equipment breakdowns that can cripple their businesses,” said Jay Bellissimo, General Manager, Cognitive Process Transformation, IBM Global Business Services. “By combining the world’s leading asset optimization solution Maximo with the leading MRO Inventory Optimization solution from Oniqua, we will offer a next generation ‘solutions as-a-service’ that let businesses easily connect with the data they need so they can forecast equipment failures, optimize spare parts, reduce unplanned downtime and optimize asset maintenance.”

Headquartered in Denver, U.S., with offices in Brisbane, Australia, Oniqua currently serves more than 50 of the world’s leading companies. As part of the acquisition, IBM Services will acquire from Oniqua a team of professionals with key skills in MRO inventory optimization, data engineering, data science, and predictive and prescriptive analytics.

“Bloated MRO spares inventories, surplus and obsolete parts on the shelf, an endless spend on inventory reduction projects and the negative impact a lack of inventory optimization has on unplanned production downtime. As a result, CEOs and CFOs of leading asset-intensive companies are paying more attention than ever to growing spare parts inventory balances, oftentimes totalling billions of dollars. Oniqua’s solution with IBM’s Asset Optimization offerings provides the market with an industry leading platform not offered by any other software company focused on the digital industrial revolution,” said Joe Berti, CEO of Oniqua.