Yokogawa’s Acquisition of Industrial Evolution Strengthens Its Provision of Advanced Solutions to the Process Industries

Yokogawa Electric Corporation announced the acquisition of Industrial Evolution Inc. to strengthen its provision of advanced solutions to the process industries. The acquisition of Industrial Evolution, a provider of cloud-based plant data sharing services headquartered in Phoenix, Arizona, was carried out through Yokogawa Venture Group Inc., a wholly owned Yokogawa subsidiary that was recently established for the purpose of executing strategic mergers and acquisitions for the industrial automation and control business.

Using its cloud-based Data-as-a-Service (DaaS) technology, Industrial Evolution collects real-time process data from devices and systems at a variety of industrial facilities, and provides this in a direct or customized form to the companies that operate such facilities as well as their customers and vendors. Industrial Evolution's service is capable of collecting data from firewall-protected systems and securely shares this with authorized users via website or mobile access.

Industrial Evolution is a pioneer in this field, and its data collection and sharing service is used by a wide range of companies, including a number of Fortune 100 companies. This service can be used in a broad variety of applications such as the sharing of data on oil and gas field operations among authorized users at multiple companies and the real-time sharing of data with investors on facilities that are operated by third parties. Industrial Evolution's customers have a high regard for the company's engineering and other services that facilitate the provision of this data in an easy-to-use form.

With Industrial Evolution's cloud-based service as a core offering, Yokogawa will now be able to enhance its advanced solutions business by providing new value to its customers.

Keywords: Cloud-Based Plant Data, Plant Data Sharing Services, Industrial Automation, Control Business, Data-as-a-Service (DaaS), Real-Time Process Data, ARC Advisory Group.