Proving the Business Case for the Internet of Things

IBM acquires Oniqua to strengthen IoT-based maintenance

Steve Rogerson
June 19, 2018
 
IBM has acquired Oniqua Holdings, a Denver-based innovator in maintenance repair and operations (MRO), to strengthen its IoT capabilities and help businesses proactively maintain vital assets.
 
Oniqua’s services are focused on mining, oil, gas, transportation, utilities, manufacturing and other asset-intensive industries.
 
This acquisition for an undisclosed amount expands IBM's asset optimisation practice to help clients reduce and optimise MRO inventories, predict when critical parts and equipment might fail so proactive actions can be taken to avoid unplanned downtime.
 
According to the Aberdeen Group, half 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 analysing data from across a business and using the insights to ensure the right spare parts and material are available when needed.
 
Today, Oniqua's service is being used by world leading companies, providing a single view of the truth for MRO spares inventory. Now, through the acquisition of Oniqua, IBM is growing its asset optimisation business with capabilities that provide one data source around all company assets to ensure round-the-clock operational efficiency.
 
Oniqua, combined with other IBM offerings such as Maximo and Tririga, should 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, reducing operational downtime.
 
"Clients are moving from legacy, on-premise offerings to new cloud-based predictive analytics and prescriptive maintenance offerings," said Jay Bellissimo, general manager for cognitive process transformation at IBM. “But without instant access to the right data, they are still susceptible to critical equipment breakdowns that can cripple their businesses. By combining the world's leading asset optimisation solution Maximo with the leading MRO inventory optimisation 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, optimise spare parts, reduce unplanned downtime and optimise asset maintenance."
 
Headquartered in Denver, with offices in Brisbane, Australia, Oniqua 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 optimisation, 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 optimisation has on unplanned production downtime," said Joe Berti, CEO of Oniqua. “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 optimisation offerings provides the market with an industry-leading platform not offered by any other software company focused on the digital industrial revolution.”