SGS, World’s Largest Testing & Verification Company, Acquires 17.65% Stake in Savi
ALEXANDRIA, VA (November 10, 2015) Savi®, a pioneer in sensor technology and sensor data analytics solutions, today announced that SGS, the world’s leading inspection, verification, testing and certification company, has acquired a 17.65% ownership stake in the company. This strategic investment will enable Savi to sell Industrial IoT solutions across SGS’s entire client base, access new markets, and accelerate penetration of its award-winning, real-time analytic solutions that optimize global supply chains. This agreement provides SGS with access to Savi’s advanced technology and will serve as a catalyst to help transform the company’s $6 billion business, while enabling Savi to tap into SGS’s impressive client base served through over 1,650 offices worldwide.
Savi will bring to market with SGS a number of “Powered by Savi” solutions and will accelerate development and growth of its sensor-data analytics solutions such as Savi Insight™, the company’s powerful SaaS analytics solution. Savi Insight captures structured and unstructured data from sensors and other data sources, correlates multiple variables including time, temperature and location and applies logic to turn data into actionable intelligence. In addition, Savi will dramatically expand development of its Industrial IoT purpose-built applications that leverage its proprietary Hybrid Lambda Architecture to power expanded analytics for SGS’s clients and serve as an engine for future Industrial IoT innovation.
“Our investment in Savi and its industry-leading experts will help drive forward future innovation at SGS, providing us with access to Savi’s award-winning technology that is important to our own strategic transformation. We are excited about the expansion of our partnership as well, which enables innovative solutions powered by Savi technology to be integrated and sold across all divisions and geographies of SGS,” said Frankie Ng, CEO of SGS. “Working with Savi for the past five years, we have achieved good results for our clients, and we see data and analytics as a growth opportunity for our company. Therefore, it was only natural that we would move forward to the next phase of our relationship by taking a minority stake in Savi to accelerate development of world-class technology that will drive our future business.”
“Multi-national commercial organizations have an opportunity to accelerate their businesses by tapping into the power of the Industrial IoT. The SGS investment is a testament to our five-year relationship and shared vision on how to help those businesses achieve that potential with unparalleled global reach,” said Bill Clark, President & CEO of Savi. “With many of Savi’s more than 1,000 commercial customers also being served by SGS, this will allow us to expand the partnership to serve all of SGS’s business units and bring new, transformative solutions to the global marketplace.”
About SGS
SGS is the world’s leading inspection, verification, testing and certification company. SGS is recognized as the global benchmark for quality and integrity. With more than 80,000 employees, SGS operates a network of over 1,650 offices and laboratories around the world.
About Savi
Leveraging 25 years of leadership in sensor technology, Savi is pioneering sensor analytics solutions that create operational intelligence from the Internet of Things. Applying big data technologies to machine-generated data, Savi solutions are trusted to run the world’s largest and most complex asset tracking and monitoring network, serving the U.S. DoD, Allied military and more than 1,000 commercial companies around the world. Savi has been recognized by Frost & Sullivan as Company of the Year in 2015 for its sensor analytics solutions. For more information about Savi visit www.savi.com.
Savi and Savi Technology are registered trademarks and Savi Insight, Savi Hybrid Lambda Architecture and Savi Scenario are trademarks of Savi Technology, Inc. All other company and product names may be trademarks of the respective companies with which they are associated.