TORONTO, Jan 21, 2014 (BUSINESS WIRE) – HubHead Corp. announced today that it has acquired NRX and its flagship asset master data management solution, AssetHub. AssetHub is used widely in the oil, gas and rail transportation industries both in the cloud and on-premise. HubHead Corp. is a private software venture controlled and led by Nigel Stokes, the former co-founder and CEO of DataMirror (sold to IBM in 2007 for $170M).
Asset intensive companies around the world have come to depend on AssetHub to deliver the high quality asset data foundation essential to achieve excellence in both new capital projects and legacy operations. Companies who depend on a trusted asset data foundation from AssetHub benefit from a more productive and knowledgeable organization, lower costs, and reduced safety and compliance risks in their operations.
“HubHead Corp. is committed to the future of AssetHub and looks forward to working with our customers to not only build and protect their asset data foundation as we do today, but to bring valuable insights to help our customers’ businesses to become safer and more predictive. We believe we can apply breakthroughs in big data, machine learning, and master data management to the problems of the industry and help our customers improve their businesses,” said Nigel Stokes, Chairman and CEO of HubHead Corp.
Over half of the global economy depends on physical assets. Companies that lack control over asset information are prone to making risky and uninformed decisions. The cost is high, impacting production, revenue, profit, share price, regulatory compliance, insurance premiums and safety. Asset management challenges are increasing in importance and getting a bigger profile. Asset management and monitoring needs will be further amplified as more and more assets are connected to the Industrial Internet & the Internet of Things. HubHead Corp. will be at the forefront of technology leaders addressing these challenges.
“AssetHub has changed the way the world’s largest companies build, standardize, and sustain their asset data foundation. The acquisition of NRX by HubHead Corp. is an exciting new chapter for the company’s customers, partners, and employees. HubHead Corp will bring new investment, innovation, and technology to AssetHub, further strengthening the value the solution delivers to the market,” said Ian Locke, CEO of NRX.
Prior to the acquisition of NRX by HubHead Corp., NRX offered the only commercial platform for building, standardizing and sustaining maintenance master data. Asset intensive companies around the world depended upon NRX to deliver the high quality maintenance master data foundation essential to achieve maintenance excellence in both new capital projects and legacy operations.
Companies whose maintenance systems are built upon trusted maintenance master data from NRX benefited from a more productive and knowledgeable maintenance organization, lower costs, and reduced safety and compliance risks in their operations
About HubHead Corp.
HubHead Corp. is the Enterprise Asset Hub Company. The company’s software helps the world’s largest businesses build, protect, and derive insights from asset data in ways never thought possible. Leading companies around the world depend upon HubHead’s solutions to improve the predictability, productivity, and safety of their operations. Hubhead Corp. is headquartered in Toronto, Ontario, Canada, and has representation around the globe. Connect with HubHead on Twitter (@hubheadco), and on LinkedIn.
James McDermott, 905-707-1288 ext. 3208
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