The agreement includes Megger taking an equity stake in IPS.
IPS is one of the leading providers of Enterprise Asset Management (EAM), Asset Performance Management (APM), Network Model Management (NMM), Outage Management (OMS), Enterprise Protection Information (EPIS) and Mobile Software Solutions (WFM) for the electrical supply industry. Gartner ranked IPS as ‘the world’s highest-performing Niche Player for the execution of the Enterprise Asset Management.
IPS was founded by Dr Zeljko Schreiner in 2004. Since then, it has grown to be a leading provider of APM data analytics to the electrical power industry, enabling electrical utilities to increase network reliability while reducing both maintenance costs and customer minutes lost, as well as providing insight to Asset Investment Planning.
The partnership with Megger extends the reach of IPS’s technical excellence and brings improved market access as well as new opportunities in commercial and strategic innovation. Megger will benefit from IPS’s data analytics capability, cyber security and digitalization expertise.
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Against this background, both parties expressed their anticipation for future cooperation:
Jim Fairbairn, CEO of Megger, stated “We are thrilled to announce our partnership with IPS and are excited about the opportunities of working together on a global basis. The Megger team has been very impressed with IPS and in particular the quality of the team at IPS. This move is aligned to the Megger strategy of extending our leadership in electrical test & measurement to include online condition monitoring equipment and services and enabling Asset Performance Management critical data flow and related prescriptive insights to electrical power systems through advanced analytic capabilities”.
Dr Zeljko Schreiner, Founder and CEO of IPS, commented “I’m very happy to have Megger as our strategic partner who will help us take the business to the next level. We have already identified many opportunities to work together to increase the value for our customers. The IPS Team is looking forward to co-operating with Megger over the coming years”.