IBM has announced its acquisition of Prescinto Technologies, a Bengaluru-based software-as-a-service (SaaS) firm specialising in solar monitoring and analytics. This strategic move aims to bolster IBM's Maximo Application Suite (MAS), enhancing its capabilities in asset lifecycle management within the rapidly evolving energy sector.
The financial terms of the acquisition were not disclosed. According to IBM, the integration of Prescinto’s innovative solutions will strengthen its position in the energy and utility industry, which is undergoing significant transformation as it seeks to optimize the management of wind, solar, and other renewable energy storage assets.
Founded in 2016 by entrepreneur Puneet Jaggi, Prescinto utilizes artificial intelligence to provide advanced monitoring, analytics, and automation tools that streamline renewable energy operations. The company has gained recognition for its asset performance management (APM) software, helping clients improve power generation and operational efficiency.
“Prescinto’s capabilities will enhance our offerings in the renewable sector, aligning with our commitment to sustainable energy solutions,” IBM stated in a press release.
Prescinto currently services a global clientele across 14 countries and manages 16 gigawatts of energy assets. Its application performance monitoring capabilities aim to help organizations simplify operations and maintenance, maximizing return on investment (ROI).
IBM has been actively expanding its capabilities through strategic acquisitions, particularly in software, cloud, consulting, automation, AI, and data analytics. Recent acquisitions include the purchase of US-based Kubecost to enhance hybrid cloud cost management and the proposed acquisition of Accelalpha, a global Oracle services provider.
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