InnoVent Process Solutions, a technology company focused on Asset Performance Management (APM), acquired by Viska Ventures

HOUSTON - Jan. 14, 2020 - PRLog -- NEWS RELEASE

InnoVent Process Solutions, a technology company focused on Asset Performance Management (APM), acquired by Viska Ventures

HOUSTON, January 14, 2020 – Viska Ventures, a technology focused investment firm, has acquired InnoVent Process Solutions Pvt. Ltd. (InnoVent) from its owners. InnoVent is a technology and consulting company focused on the fast growing Asset Performance Management (APM) space in the process industries.

Manufacturing process industries are continuously seeking ways to improve performance of their operating assets, and find ways to increase productivity and profits. InnoVent's APM Solutions are geared towards operational excellence and driving that profitability by taking advantage of digital and emerging technologies via its Virtual Intelligence Platform (VIP). VIP is a proprietary and cloud based software platform to convert "hard copy" based Standard Operating Procedures (SOP's), manuals, and training content to interactive and digital SOP's and Operations checklists, with embedded equipment photos, datasheets, CAD drawings, tutorials and videos. VIP also takes real time asset information (Control systems, ERP, historians) and provides KPI monitoring dashboards deploying AI/Analytics/simulation to predict equipment and asset performance. Operators can then determine their actions using VIP's Smart Decision trees for cause and effect analytics, and refer to eLearning tutorials on best practices, all in a seamless and interactive platform. The VIP technology platform is supported by a consulting team with deep expertise in the oil & gas, refining, petrochemical, pharma, and renewable energy industries.

Vibhu Sharma, Board Chairman of InnoVent commented, "This is an exciting deal for us, putting us squarely in the rapidly growing APM space. APM leverages IIOT (Industrial Internet of Things), digital & automation solutions, AI/Data analytics, and monitoring software and systems to get the most out of the operating assets. The InnoVent team brings world class software, process industry expertise and cost effective solutions via the High Value Engineering Center (HVEC) in India."

InnoVent already serves several chemical and energy companies in North America and India. InnoVent will expand its footprint in Houston to better serve the North and South American markets. InnoVent India will continue to be led by Gautam Pradhan, who brings over 27 years of experience in the process industries. Gautam was previously Business Development Director at Wood PLC selling simulation software and consulting services and prior to that was Sr. Principal Business Consultant at AspenTech.

InnoVent offices are based in Houston, Texas, and in Pune, India. Visit our website for more details.