I believe this is the first PLMish acquisition of 2018: Hexagon PPM announced that has acquired Industrial Business Solutions, Inc. (IBS), makers of ContinuumEdge. ContinuumEdge is a web-based commissioning and completions tool for asset operators and contractors, to improve project oversight, work processes, document control and change management. Paraphrasing IBS, ContinuumEdge “integrates applications based on the workflow of industrial projects. Completions and commissioning management, safety risk management and operability development management work together to create a comprehensive enterprise-level system. Combining completions and commissioning management with project governance enables managers to access … information throughout a project lifecycle, from feasibility, detailed design, FEED [front-end engineering and design], construction, completions/commissioning/startup and operations through to de-commissioning”.
Why does this matter? Commissioning and completions is the last mile in an AEC project. It’s the final step before the operator flips the giant red “ON” switch (no, not really) to formally start production. All individual production elements are in place, hooked up, tested and functioning — and then tested again in complete systems. This is the transition from construction to operations and from the EPC to the operator.
Even thought the commercial product has only been on the market since 2015, IBS and ContinuumEdge have racked up an impressive customer list that includes EPCs like Hatch and Aker, mining firms such as Rio Tinto and BHP Billiton, Petronas in oil, and others.
Hexagon says that the addition of ContinuumEdge (CE) “completes the digital project ecosystem to take Hexagon customers from start to finish, creating a virtual representation of a project across its entire life cycle (i.e., a digital twin) using real-time data to optimize business performance. CE removes inefficiencies around data transfer, manages change between parallel processes using the same project data, and removes all paper-based processes.”
After a press release filled with references to “ContinuumEdge”, Hexagon says the product is being renamed Intergraph Smart Completions, effective immediately. Go figure.
Financial details were not disclosed, but the acquisition has already taken place.