IFS, the global cloud enterprise software company, announced it has signed a definitive agreement to acquire Falkonry, a California-based industrial AI software company that provides automated, high-speed data analysis to the manufacturing and defence industries. The AI-based, self-learning solution continuously monitors large volumes of data for assets, machines, systems, and industrial processes to discover and analyse unusual behaviour and causes of failures.
This acquisition follows soon after IFS’s acquisition of Poka, a provider of connected worker technology that empowers factory and field operatives to work smarter, safer and drive productivity. The combination of Falkonry and Poka with IFS Cloud makes IFS a compelling vendor for organisations wanting to establish Smart Factories of the future. IFS expects the acquisition of Falkonry to complete in Q4 2023.
By analysing terabytes of machine and sensor data, Falkonry AI applications identify developing faults earlier and better than would ever be possible with manual systems. Maintenance and operations teams use Falkonry applications for faster troubleshooting and taking timely actions. This patented AI requires no set up and securely scales across the enterprise in both cloud and edge.
IFS CEO, Darren Roos, commented: “Falkonry is unique in the market because its technology is agnostic and also it does not require data scientists. These are great differentiators for Falkonry that means the solution is both scalable and low-cost to implement, two fundamental attributes that very much align to our own values.”
By leveraging Falkonry’s automated and self-learning AI, organisations can democratise intelligence, enabling operational users to take timely actions to prevent asset downtimes, quality issues, and emission violations and automate process and workflow improvements. Headquartered in California, USA, and regional presence in Mumbai, India, Falkonry was founded in 2012 by CEO Nikunj Mehta.
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