After a period of very large acquisitions, i.e. Bucyrus, Caterpillar Inc., now seems to be moving down a path of smaller, niche moves to expand various product or fill holes in their offerings. The latest deal finds the Peoria headquartered manufacturer in the marine markets, completing the acquisition of ESRG Technologies Group, LLC, a vessel monitoring and data analytics supplier. The acquisition includes ESRG’s software suite for the remote monitoring and diagnostics of more than 65 on-board systems as well as the being sable to provide recommendations to ship owners to help increase efficiency, reduce downtime on their vessels and assist shipyards in reducing warranty expenses.
Headquartered in Virginia Beach, Va., ESRG has provided data analysis and remote monitoring technology for assets in the marine and naval defense sectors since its inception in 2000. ESRG serves as a data analytics provider for the United States Navy, providing remote monitoring and analytics services for warships. Currently ESRG’s proprietary software is monitoring thousands of assets on vessels operating around the world, providingprognostic recommendations to ship operators and owners.
“As a result of the ESRG acquisition, Caterpillar Marine is evolving beyond engine-focused monitoring to provide monitoring and diagnostic solutions for an entire vessel,” said Nigel Parkinson, Caterpillar Marine managing director. “This acquisition enables Caterpillar Marine to move closer towards our strategic vision of serving our marine customers as a complete systems solutions provider.”
ESRG will become a part of Caterpillar Marine, which operates within the Marine and Petroleum Power Division of Caterpillar Inc. ESRG software solutions will be rebranded as Caterpillar and sold and supported through the global Cat dealer network. The technology will operate in alignment with the broader Caterpillar Inc., Cat Connect monitoring initiatives.
Other Cat deals in recent months include an equity investment by Caterpillar Oil & Gas in GTUIT, a manufacturer of mobile gas treatment systems. Most recently the company formed a new Analytics & Innovation division to manage strategic third party relationships with providers like Uptake, a start-up with which the company recently announced a technology and predictive analytics agreement.