Prometheus Group Acquires Utopia Global Enhancing Its Data Migration And Governance Capabilities

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Prometheus Group Acquires Utopia Global Enhancing Its Data Migration And Governance Capabilities

On 16th October Prometheus Group, a maintenance optimization platform provider backed by Genstar, acquired Utopia Global, a provider of end-to-end data quality, migration, and governance solutions. Utopia Global had received $50 million in funding from FTV Capital, a private Equity firm, in 2012. Terms of the deal were not disclosed.

Prometheus Group offers a platform that allows easy scheduling of maintenance work. On May 30th, 2019, Genstar Capital, a private equity investor with $19 billion under management, acquired Prometheus Group for over $1 billion. Between then and the acquisition of Utopia Global, Prometheus has made four other acquisitions. On 19th May 2020, Prometheus acquired VIZIYA, a provider of analytics and business intelligence tools for asset maintenance, from Quarterhill, a Canada-based publicly traded patent licensing firm for CAD 49.4 million ($36.37 million). In April 2020, it acquired WorkTech, an enterprise workforce management software provider. On 2nd December 2019, Prometheus Group acquired Roser Consys, a plant shutdown, turnaround and outages software provider and in October 2019, it acquired Engica, a control of work software vendor. This spate of acquisitions has not only given Prometheus Group ‘Unicorn’ status, but has also placed it at the forefront of the maintenance scheduling and analytics market.

Prometheus Group offers a platform that enables end-to-end asset management in real-time. The Prometheus Platform can integrate with CMMS, EAM, and ERP systems offered by the likes of IBM Maximo, Oracle, and SAP, to provide a single view of data authored and stored across a firm’s legacy systems. The platform also offers functionality and workflow for planning & scheduling, mobility, master data governance, permitting & safety, shutdown, turnaround & outage, and reporting & analytics. 

Prometheus Group continues to grow even while the global economy continues to struggle due the COVID-19 pandemic. A key driver contributing to the vendor’s continued growth is the heightened demand in a post-pandemic world for a single overview of all work activities. Prometheus Group provides access to work related data from any number of EAM or ERP systems that a corporation has installed, making it the platform of choice for large corporations with multiple legacy systems, each authoring and capturing different data sets.

Sebastian Winter

Industry Analyst

Sebastian is an Industry Analyst in the Verdantix Operational Excellence practice. His research agenda covers digital twins for industrial facilities, asset management software, and connected worker platforms. Sebastian also delivers market strategy, voice of the customer, thought leadership, CDD, and digital strategy advisory pieces. Prior to joining Verdantix, Sebastian worked for Trucost, a division of S&P Global, and held positions in China, Brunei and Kenya. Sebastian holds an MSc Environmental Technology from Imperial College London.