January 21, 2022
Visionaize, Inc., an intelligence-led digital twin company, reports the acquisition of INOVX Solutions, Inc., the digital twin innovator and creator of the V-Suite. The acquisition of INOVX opens new market opportunities to deliver Visionaize Visual Data Discovery, and Visionaize Industrial Meta Verse with V-Suite capabilities to a broad set of customers. It enables Visionaize to further productize and scale its expertise and front-line intelligence as part of the Visionaize Digital Twin platform.
The transaction closed in the fall of 2021 for an undisclosed amount in cash and stock.
The INOVX V-Suite is a contextualized 3D asset visualization engine that accelerates digital transformation by facilitating near-real-time business decision-making using the end-to-end visual asset integration of complex business processes, such as inspection, maintenance, governance and outage management. This technology will become a key part of the Visionaize Digital Twin platform, bringing vendor-agnostic V-Suite that integrates with and enhances any customer environment.
The combination of cloud-based 3D visualization models will be used in the Visionaize Digital Twin, providing advanced integration with systems of records for customers, while improving real-time business consumption and real-time decision-making process for Visionaize Consume customers.
“INOVX V-Suite productizes integrations to enterprise systems of record to deliver faster outcomes and empower more customers with better real-time decision-making process,” says Vikas Agrawal, Visionaize chief executive officer.
The INOVX V-Suite rapidly creates and consolidates accurate 3D models with asset information and integrates with the leading business applications to contextualize data and optimize asset management processes and improve real-time business decision-making capabilities for digital transformation leaders. Using an extensible 3D platform, the INOVX V-Suite delivers 'out-of-the-box' solutions for asset inspection, operation and maintenance, which enhances risk awareness and improves remote collaboration and decision making.
“Customers rely on our V-Suite to consolidate and contextualize asset information, which lowers cost on critical reliability activities, such as risk-based inspection (RBI), while improving insight and decreasing the risks of managing complex heterogeneous asset-rich enterprises for far less cost than existing processes and tools,” says David Reinhart, INOVX president, and co-founder.
Sources: Press materials received from the company and additional information gleaned from the company’s website.
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