Sphera Acquires SparesFinder, Expands MRO and Cloud-based Capabilities
CHICAGO, Aug. 16, 2018 /PRNewswire/ -- Sphera, the largest global provider of Integrated Risk Management software and information services with a focus on Operational Risk, Environmental Performance and Product Stewardship, has announced the acquisition of sparesFinder, a leading U.K.-based Maintenance Repair & Operations (MRO) cloud-software company.
For 20 years, sparesFinder has helped international organizations large and small maintain accurate, accessible and reliable spare parts data and material master data with its cloud-based Finder, Insight, Gatekeeper and Masterpiece solutions. This acquisition will enhance Sphera's already robust MRO software offering by incorporating sparesFinder's cloud and mobile experience with MRO.
"Adding sparesFinder to our portfolio allows us to enhance our game-changing SpheraCloud solution even more," said Paul Marushka, Sphera's president and CEO. "MRO is a huge and often expensive part of many large and midsize companies' day-to-day operations, and adding sparesFinder's solutions to the Sphera family will help our clients manage their MRO needs seamlessly whether they choose an on-premise or cloud-based solution."
The sparesFinder acquisition serves to expand Sphera's portfolio of cloud-based applications, enhances Sphera's breadth of industrial Operational Risk software solutions and services, and further increases Sphera's global presence.
The acquisition strengthens Sphera's already robust suite of software solutions in three key areas:
Cloud-based applications: Sphera's products will be complemented by sparesFinder's cloud-based offerings focused on standardizing, governing, enriching, finding, and leveraging their MRO and material master data across multiple business systems and in multiple languages.
Operational Risk solutions: Combining sparesFinder's product portfolio with Sphera's capabilities will provide customers with a broader set of Operational Risk software solutions and services.
Global presence: Sphera maintains a strong global footprint, and the addition of sparesFinder accelerates Sphera's international growth and market presence.
As part of the deal, sparesFinder's co-founder and CEO, David Stroud, will join Sphera as Vice President of MRO Product Management, and help with the transition.
"Since 1998, sparesFinder's software solutions have helped companies reduce MRO costs, improve operational effectiveness and increase revenue by leveraging their MRO and material master data," Stroud said. "Our products and company are a natural fit for Sphera's already robust portfolio of Integrated Risk Management solutions, and we couldn't be happier to be joining the Sphera family."
Terms of the deal were not disclosed.
Sphera is the largest global provider of Integrated Risk Management software and information services with a focus on Environmental Health & Safety (EHS), Operational Risk and Product Stewardship. For more than 30 years, Sphera has advanced Operational Excellence by serving more than 3,000 customers and over 1 million individual users across 70-plus countries to create a safer, more sustainable and productive world.
Based in London, England, sparesFinder has been helping companies manage their spares-reliant businesses by reducing costs, improving operational effectiveness and increasing revenue. SparesFinder provides its clients with a cloud-based software platform and supporting services that allow them to standardize, govern, enrich, find and leverage their MRO and material master data across multiple business systems and in multiple languages.