Prometheus Group ‘Levels Up’ With The Acquisition Of Atonix Digital And Launch Of Prometheus APM Software

Prometheus Group ‘Levels Up’ With The Acquisition Of Atonix Digital And Launch Of Prometheus APM Software

On March 28^th, Prometheus Group, a maintenance management software provider, acquired Atonix Digital, an industrial AI analytics software supplier.

Atonix Digital was originally launched by Black & Veatch in 2018 as a wholly owned subsidiary, before being spun out in 2021 as a standalone organization. Atonix Digital provides asset failure prediction software to firms in the power generation, water utilities, chemicals, manufacturing and oil and gas sectors. Publicly named customers include EthosEnergy, Great River Energy and Minnesota Power. With this acquisition, Prometheus Group launched the Prometheus APM solution (formerly known as AtonixOI).

Prometheus APM will be integrated within the Prometheus platform, which covers core maintenance use cases such as maintenance planning and scheduling, as well as reporting, analytics and operational risk management (ORM). AtonixOI’s predictive maintenance (PdM) capabilities will allow Prometheus to move beyond preventative to predictive maintenance. Adoption of PdM software is on the rise – in our upcoming report sizing and forecasting the industrial maintenance management software market, we forecast that the PdM market will grow from $1.89 billion in 2022 to $4.02 billion in 2028, at a CAGR of 13.5%. This growth reflects huge buyer demand for PdM software, which catches asset failures before they happen and alerts operators to any performance anomalies: 31% of the 301 respondents to our 2022 global corporate survey reported plans to invest in software for asset failure prediction in 2023.

However, the industrial asset maintenance software market is highly competitive – and vendors are constantly seeking paths to differentiation. Baker Hughes launched Cordant in January 2023, integrating its APM product alongside its process optimization solutions, while Flutura was acquired by Accenture in March 2023, to further strengthen its AI analytics offerings. Vendors are also developing capabilities for production performance improvements and sustainability KPIs. The rise of AI analytics solution providers such as Augury, Falkonry, SymphonyAI Industrial and TrendMiner, who provide easy-to-implement solutions for PdM, production optimization and emissions reduction, has further intensified competition alongside incumbents such as AspenTech, AVEVA and GE Digital, each of which emerged as a leading provider of PdM software in our 2022 APM Green Quadrant.

Pivoting toward APM capabilities is therefore a canny move – but Prometheus has its work cut out.

To learn more about asset performance management, read the following Verdantix reports: Green Quadrant: Asset Performance Management Solutions 2022, Best Practices: Transitioning To Predictive Maintenance For Enhanced Asset Management and Product Benchmark: Predictive Maintenance Functionality Of APM Software.