LS Electric acquires Nokia's power plant analysis platform09. 06. 2022 Thursday / By: Robert Denes / Business / Exact time: BST / Print this page
LS Electric announced on Wednesday that it had acquired Nokia's power plant analysis platform, and the South Korea LS Group's energy solutions division has signed a merger and acquisition agreement.
A day earlier, he had signed a merger and acquisition agreement at the exhibition center in Hanover, Germany.
Under the agreement, LS will take over Nokia’s Device Lifecycle Optimizer (ALO) software, which uses extensive data analysis and machine learning technology to improve facility efficiency by detecting when to replace and predicting needed repairs.
The purpose of the acquisition is to launch LS Electric’s Asset Management Software (AMS) business, which systematically manages power throughout its lifecycle.
Kim Young-keun, LS Electric's chief technical officer, said: "With the acquisition of Nokia ALO, we can be more systematic in management by linking big data on production, logistics and maintenance to a standardized platform."