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Tag: IT

Redkik forms strategic partnership with insurance broker

Posted on by David Priestman

Redkik, a global software company with the mission to simplify and improve the cargo insurance industry with technology, has formed a strategic partnership with Howden Insurance Brokers AB, a leading provider of insurance brokerage and risk consulting. The partnership aims to transform insurance provision for the logistics and transportation industry with a quick, straightforward and compliant digital solution.

By partnering together, the companies are offering on-demand, per-shipment insurance, underwritten by Chubb, for instant premium quotations at the time of freight being booked. This expedient process is coupled with competitive pricing and clear policy wordings for customers’ specific needs.

“Redkik has been truly impressed with working with Howden and Chubb, as they have been nothing but dynamic in supporting this partnership and imminent launch across Europe,” said Chris Kalinski, CEO and Founder of Redkik. “Redkik’s technology, Chubb’s well established insurance capabilities and Howden as the insurance intermediary has led to a transformative partnership that will change the way we think of cargo insurance.”

Paul Woodgate, Regional Executive Officer, Northern Europe at Chubb, added: “Chubb has been in the marine insurance business for more than 230 years and we are very proud to partner with Howden to introduce to the European market this solution which truly modernises the provision of cargo insurance.”

The new SaaS solution for cargo insurance is now available for transport intermediaries to distribute in Sweden, with the intention of becoming available across Europe shortly after this initial pilot. This follows a successful launch in the US in 2021 and increasing availability extending to Asia and Latin America during 2022.

 

Webinar: Driving Logistics Transformation with AI

Posted on by Keith McKinley

For Transport and Logistics businesses, the key to addressing many of today’s challenges – from supply chain disruption and rising customer expectations, to the balance between efficiency and sustainability – could lie in cutting-edge technologies like AI & Machine Learning (ML).

By rapidly applying AI and ML to key business areas, organisations can uncover powerful insights within their data to increase efficiency and delight customers.

Inawisdom‘s recent webinar, hosted by Logistics Business editor Paul Hamblin, took a deep dive into the impact and applications of AI in logistics and supply chain, with insights and best practice from a panel of AI and logistics experts from Inawisdom, Intel and others.

CLICK HERE to watch a recording of the webinar to learn how AI can drive transformation in Transport and Logistics, which featured real-life case studies of AI in the logistics industry

Download the webinar to discover:

  • How to overcome the common myths about getting started with AI and why the reality is easier than you’d think
  • Real-life success stories of how the Transport and Logistics industry is already applying AI
  • Insights into what’s next for AI and ML in the supply chain, and where the greatest opportunities lie

To gain further insight on this topic, CLICK HERE to watch the webinar and kick-start your AI journey.

 

 

Exiger launches supply chain risk detection platform

Posted on by Keith McKinley

Exiger, a global leader in AI-powered supply chain and third-party risk management solutions, has launched Supply Chain Explorer, its proprietary real-time supply chain risk detection SaaS platform that empowers companies and government agencies to rapidly surface, understand and mitigate critical threats to their immediate and extended supplier networks.

Purpose-built in response to market and client demand, Supply Chain Explorer was developed in close collaboration with some of the largest corporations and critical government agencies.

Supply Chain Explorer allows users to visualise, prioritise and escalate high risk relationships. A modular three-in-one solution, Supply Chain Explorer discovers supplier networks across digital footprints, global shipping data and contract awards data in a centralised application, delivering unparalleled transparency into supplier risk for government agencies and critical infrastructure sectors, including the Defense Industrial Base.

Exiger’s customers have already battle-tested the software throughout some of the most volatile geopolitical, industrial and supply chain issues in history. Over the last six months, Exiger has been working with customers to ensure the relevance and accuracy of the product to their mission. The product has been used to detect, quantify and mitigate risk in under 24 hours across a number of different supply chain crises and cyberattacks.

Supply Chain Explorer is currently used by corporations and federal government agencies to analyse Russia-Ukraine war supply disruptions, prioritise and understand Log4j impacts on their enterprise, and most recently, to assess their vulnerability to the Okta breach.

One beta customer of Exiger’s Supply Chain Explorer noted: “My team was tasked with identifying high-impact vendors in a specific region. Exiger’s commerce Supply Chain Explorer quickly gave us visibility not only [into] risk with direct suppliers, but [also] allowed us to work into the sub-tiers. Given the quick turnaround time of the request, Exiger’s tool proved invaluable to providing a timely and thorough answer to our [stakeholders].”

In a recent global market study of over 300 risk management professionals, Exiger, in partnership with Stax Inc., found that 77% of large companies indicated the need to monitor risks of suppliers down to Tier 3 or deeper.

“The turbulence of the market has given us unique insight into the challenges our clients face in trying to understand their supplier networks in both their day-to-day work and in a crisis,” said Brendan Galla, Exiger’s Chief Product Officer.

Reflecting on the last two years of product development and supply chain analytics work, Galla added: “For instance, ideating how you could use our cyber Supply Chain Explorer to identify the impact of a compromise in your software environment went from theoretical to mission-critical overnight as the Log4j news broke last year. The creation of this product was a unique opportunity to both understand our clients’ needs and help them resolve real-world issues – this effort was an embodiment of Exiger’s mission to make the world a safer place through technology.”

Supply Chain Explorer draws on an aggregated blend of internal and external open data sets, including over 31 million direct unstructured and structured data sources, 1.3 billion contract records, 7 billion source records of supply chain installations, and 16.8 million unique supply chains. This solution also provides a comprehensive view into supply chain risk across 50 different categories and subcategories, including sanctions, trade embargoes, enforcement, state-owned flags, cyber, modern slavery, and adverse media. The platform will ultimately include other macro risks, such as disruption for raw materials, natural disasters and more.

Data from Supply Chain Explorer is available in a streamlined, user-friendly interface, removing the noise and complexities that come with traditional manual due diligence and risk identification methods. The most sophisticated technology of its kind, Supply Chain Explorer leverages cutting-edge artificial intelligence and natural language processing backed by a hyper scaling database infrastructure.

“Exiger envisioned Supply Chain Explorer to simplify and democratise supplier and supply chain research,” said Brandon Daniels, President of Exiger. “However, over the last two years, it became more than that.  It was an opportunity to help the US and our allies identify the impact of sanctions on Russia.  It helped our clients rally against Uyghur Forced Labour. It has helped Exiger support the COVID-19 effort to safely procure the supplies healthcare workers desperately needed to save lives.

“The other issue we realised in working with our customers to develop this product is that risk management and procurement professionals are swamped in this environment. Supply Chain Explorer was designed to help our customers focus, prioritise and triage risk proactively. With single-click supply chain detection, high-level due diligence and risk analysis, everyone can now join the fight to secure our global supply chains.

“For the first time, customers can not only see their risk and solve the issues that have already happened, but spot potential disruptions before they impact their supply chain – in a cost-effective and scalable way.”

The launch of Supply Chain Explorer follows a period of accelerated growth and investment in Exiger’s technology and people. The company continues to recruit nationally recognised risk management experts to its executive leadership team, most recently appointing Bob Kolasky, Founding Head of Cybersecurity and Infrastructure Security Agency’s National Risk Management Center, as Senior Vice President of Critical Infrastructure. Kolasky joins Exiger Government Solutions President Carrie Wibben, former Principal Deputy for Counterintelligence, Law Enforcement, and Security for the Department of Defense.

Supply Chain Explorer will be available as a standalone product and marks the latest in Exiger’s ongoing development of solutions to address the growing need for end-to end third-party and supply chain risk management – including its foundational AI-powered technologies, DDIQ and ScreenIQ, used by the world’s largest banks for years to transform the fight against financial crime.

 

Toyota acquires viastore

Posted on by David Priestman

The shareholders of viastore Group, a leading international provider of intralogistics systems, intralogistics software and supporting services, have today (31st March 2022) signed an agreement to sell all shares in the company to Toyota Industries Corporation (TICO).

With its three business units, viastore completes TICO’s range of products and services and will enable an integrated intralogistics offering and customer-specific solutions in the future – from forklifts to fully automatic sorting systems. Together with TICO, viastore will continue to actively pursue its growth strategy.

The new partnership provides viastore with access to the customer portfolio of a leading global engineering group and long-term growth prospects for all three business areas. The parties have agreed not to disclose further details of the transaction, which is still subject to antitrust approval and is expected to close in the third quarter.

Over the past 50 years, the viastore Group has developed into a leading international intralogistics expert. With its three business units – Intralogistics Systems, Intralogistics Software and Supporting Services – viastore is a system integrator for the manufacturing industry and other industries and offers integrated, automated intralogistics solutions.

In recent years, the company has embarked on a successful growth course and, as one of the few companies in the industry worldwide, has consistently relied on software services as an elementary part of its business model. Today, the material flow specialist is present in 17 countries with around 600 employees. For the 2021 financial year, the Group reported sales of around €140m.

Dynamic growth prospects in automation

TICO is a listed Japanese engineering company and a global leader in its field. It operates in three business areas: Automotive (manufacture of vehicles and components), Textile Machinery and Material Handling (Toyota Material Handling Group (TMHG) – forklifts, warehouse technology and lifting platforms and Toyota Advanced Logistics Group (TALG) – automated integration logistics).

TICO has set itself the goal of further strengthening its global competitiveness and offering its customers a comprehensive range of products and services in the field of intralogistics. In 2017, TICO acquired Vanderlande (Netherlands), one of the world’s leading general contractors for airports, warehouse and parcel logistics process automation solutions, as well as Bastian Solutions (USA), a leading North-American system integrator.

Under the roof of TALG viastore becomes part of an alliance of established, strong intralogistics brands. All three brands, Bastian, Vanderlande and viastore, are among the top 20 intralogistics brands worldwide. They have already successfully established themselves independently on the international market and are now pooling their know-how and innovative strength.

Analysts expect significant growth in the global market for material handling solutions in the coming years. By 2026, they forecast a compound annual growth rate of around 8% and an increase in industry revenue to US$354bn, up from US$195bn in 2018. Against the background of a growing demand for integrated solutions in the field of material handling, viastore is tapping into long-term growth potential through the partnership with TICO and its cooperation with Toyota Material Handling Europe.

Besides a broader approach to the market – especially in the area of small- to mid-sized automation projects – both companies will benefit from their individual strengths e.g. in the fields of Warehouse Management Systems, Automated Storage/Retrieval Systems, forklift trucks and Automated Guided Vehicles and create added value through a combined offering.

Partnership characterised by continuity

The partnership with TICO is characterised by continuity. viastore will continue to actively pursue its strategic development and will operate as an independent unit under the roof of Toyota Advanced Logistics Group (TALG) in the future. Brand, business areas, locations and management will be maintained. The management team consisting of CEO Philipp Hahn-Woernle, CFO Anja Zschernig and the COOs Dr. Harald Goebel and Thomas Hibinger will continue to lead the company.

Philipp Hahn-Woernle, CEO of viastore, said: “In the context of a growing demand for integrated solutions in the field of material handling, TICO has recognised the potential of viastore and presented a vision that is strategically compelling for both sides. In TICO, we have found a partner who appreciates the value of our brand and capabilities and will support the company in its long-term global growth trajectory.

“As an independent unit under the roof of Toyota Advanced Logistics, we will continue our successful course and open up new potential and long-term stability for our customers and employees by belonging to a successful group of companies.”

Norio Wakabayashi, Senior Executive Officer of TICO, added: “The viastore GROUP is a successful company with an outstanding market position. Its complementary business areas make viastore a perfect match for TICO to be able to offer customers an integrated intralogistics solution in the future.

“I am very pleased to welcome the outstanding team of viastore, which strengthens our know-how in the market for intralogistics and expands our family of companies through the addition of another highly recognized intralogistics brand.”

Smart technology in warehousing and logistics

Posted on by Keith McKinley

The smart technology boom has affected all industries, from tech giants to small business owners. Software has changed the game in terms of accessibility to smart technology. It doesn’t have to be expensive, but does have to be impactful. In logistics and warehousing, businesses have excelled in implementing smart technology. Use of AI (Artificial Intelligence), ML (Machine Learning), automation, blockchain tracking, and IoT (Internet of Things) have changed the way these businesses run. But Danny Hudson, Director of Retail & Consumer Packaged Goods (CPG) at Intelligent Delivery Management Platform FarEye, asks how have these  things actually changed how we work?

AI, Automation and Loop Optimisation

Although in theory it seems obvious to take the most efficient route, planning route optimisation and getting it right has proved  time-consuming and  often fraught with errors. While AI and automation are two different things, in logistics they go  hand in hand. An example of this could be a machine in a warehouse which transports packages. Automation also applies heavily to loop optimisation, which focuses on route optimisation.

Automation has allowed us, here at FarEye, to reduce use of our resources by changing our routes from what we called a snake format to a cluster format . Essentially this means that we’ve moved our deliveries to tighter, clustered areas, rather than working in a long line. This benefits our clients by reducing time, fuel, environmental impact and risks.

In terms of how we work, automation allowed us to find solutions for things like driver shortages, or limitations within the fleet. This ensures maximum efficiency and profitability per delivery. It increases visibility, and is fully scalable depending on a client’s needs . Integrating just small amounts of automation through loop optimisation has majorly impacted how we work in the industry.

Blockchain Tracking and Parcels

Although automatic package scanning is now commonplace, some warehouses still do this by hand. While not all things can be scanned by machine, or automatically, a large number of things can be, even big and bulky parcels.

The introduction of blockchain tracking has been revolutionary in terms of limiting administration and errors. All items are given a code, which is registered as they move through every stage of the delivery process. This code is stored as a blockchain, which means it’s fully trackable all the way back to production. This allows for full visibility throughout the delivery process, and all stakeholders can access this information. It also means that clients receive real-time updates on parcels, mitigating the likelihood or errors and misinformation.

Internally, it allows for more efficiency as it reduces administrative time and it means that parcels can be recalled and traced back to their origin when needed. Essentially, blockchain item-tracking has allowed  us to work smarter, not harder.

IoT and Administration

IoT (Internet of things) refers to a network of physical objects which have technology such as  software and sensors  allowing them to connect to other devices or systems over the internet. This normally will refer to the exchange of data between objects and these systems. This is largely important for inventory tracking and can be  critical  when it comes to organising processes in  warehouses and to providing access to data.

IoT technologies limit errors and overall costs. They’re  also generally quite straightforward to implement, as most businesses will already have the systems they rely on in place (such as WiFi or Bluetooth). Blockchain item tracking can also fall into this category, however IoT encompasses many other things such as inventory tracking or precise location monitoring.

Having a full system in place, with items  that connect and interact with one another, allows businesses to automate manual tasks and access any data they need online.

A combination of just a few pieces of smart technology can greatly improve productivity, resource usage and error. AI, automation, blockchain item tracking and the  IoT have proved game-changing for a large number of our clients. It’s changed how we work, allowing us to spend more time on higher-priority tasks. We’re constantly looking for new ways to implement these technologies, and with clients responding so positively to them, we don’t see anything but smooth and efficient warehousing ahead.

 

 

Tompkins-GRS partnership yields RaaS model

Posted on by David Priestman

Tompkins Robotics, a global leader in the robotic automation of distribution and fulfilment operations, has partnered with Global Robotics Services (GRS), a GLP backed platform that provides financial backing for collaborative robots as a service (RaaS) solutions.

The Tompkins Robotics – GRS RaaS solution provides customers with the ability to pay for what they consume including equipment, installation, commissioning, and support costs, all of which are included in the service level agreement (SLA). This innovative model gives customers the flexibility of a subscription-based pricing and service option instead of traditional capital equipment purchase and support model. This conserves capital, converts investment to an operating cost, and allows a customer to “pay as they go” for the use of the system.

RaaS also provides customers with the ability to scale up and down rapidly and easily in response to changing market conditions or seasonal demand such as the Holiday season, Back to School, January returns, and other seasonal events.

Tompkins Robotics, with its tSort robotic solution, has developed a reputation for execution of projects, rapid deployment, scalable layout design, understanding of US building codes, and knowledge of logistics operations. GRS brings the financial strength and resources of a global logistics real estate investor, developer, and operator. Together, Tompkins Robotics and GRS will bring new opportunities for US companies easy entry into automation and robotics.

Mike Futch, CEO of Tompkins Robotics, said: “The asset services support from our partnership with GRS will position Tompkins Robotics to implement a RaaS deployment for customers that prefer this model versus our existing capital procurement business model. In addition, our solutions have always had a reputation for being flexible, now we have the opportunity to allow financial flexibility as well.”

Hongming Chen, CEO of GRS, added: “Our vision is to accelerate the adoption of automation while lowering the barrier to entry for businesses when it comes to robotics technology. The subscription-based model of RaaS creates lower upfront capital requirements, reduced fixed costs and flexible lease terms which helps bridge the automation gap for many small to mid-size enterprises.

“A full package of services including consulting, implementation, maintenance, systems and robotics upgrading can all be provided as part of this service. With both parties expertise and resources, we look forward to expanding our cooperation with Tompkins in greater depth and breadth to provide a more holistic solution to our customers.”

 

OSCA brings supply chain visibility to textile licensee

Posted on by David Priestman

Whether it’s Superman, Batman or the Avengers: The German licensee of these motifs is relying on Setlog’s software OSCA to better manage its supply chain for the production and transportation of clothing with movie and comic motives.

The German marketing specialist for textiles and accessories of popular licensed brands signed a contract with Setlog at the end of 2021. With that, the company set the foundation to be up to date in terms of digitisation of supply chain management. Setlog’s OSCA SCM and OSCA CSR modules will go live at the end of the first quarter of 2022.

“With OSCA SCM, we can track our orders digitally via a transparent supply chain. We chose Setlog’s tool since it is the best solution in an international benchmark,” emphasises Holger Schmies, Managing Director and co-owner of the company. One of the reasons why the enterprise also uses OSCA CSR (Corporate Social Responsibility) is to be able to comply effortlessly with the regulations from future supply chain due diligence laws.

OSCA is easy to implement and makes it possible to quickly manage and control all supply chain processes. “The software replaces emails, Excel lists and last-minute calls about delivery changes,” explains Ralf Duester, board member of Setlog.

Whether Disney, Warner Bros, Marvel, Peanuts or Paw Patrol – the German licensee is holding licenses for popular comic and movie heroes. Textiles with prints of the characters are produced up to 85% in the Far East – the rest in Portugal and Turkey. In the future, the company will transmit all orders from its ERP system to its two dozen suppliers directly via Setlog’s software.

From order confirmation and delivery planning to transport bookings and shipments, the SCM software always serves as a central communication hub for all partners along the supply chain. With the software, the company can control costs, volumes, lead times, transport times and routing, carton packing lists (including label generation) as well as delivery dates.

The four logistics service providers the licensee works with will transfer transport notifications and tracking data directly into the Setlog platform to thus supporting a single point of access. For a digital data exchange of order and transport information with the TMS solutions of the forwarding companies, Setlog has developed a REST API interface. A KPI dashboard visualises the most important key figures for the employees.

All partners in the supply chain are informed simultaneously and in real-time as soon as delivery data changes or delays occur. Once OSCA goes live, all shipments will run through the system. For 2022, the company expects between 250 and 300 FCL container as well as LCL shipments to be centrally controlled and handled this way.

To easily comply with the regulations of future supply chain due diligence laws in the EU and Germany, the fast-growing company relies on the OSCA CSR solution. Within the system, the structures and tier levels of global supply chains are displayed transparently. New supply chain partners can easily be integrated into the system. Suppliers, agencies, factories and other upstream partners are added according to a standardised onboarding process.

“Due to our growth in sales, server space for certificates, email traffic and the work of the CSR department increased. With the help of OSCA CSR, we want to reduce these burdens and bring transparency to the processes,” explains Schmies.

The benefits of the solution include:

  • Easy tracking of audits as well as certifications including an early warning system that strikes as soon as the validity of the documents expires.
  • Violations of regulations can be classified and tracked in an uncomplicated manner.
  • The regulations (e.g. the Code of Conduct) are clearly presented and can be distributed simultaneously to all partners involved in the respective process.
  • Surveys to partners can be created and distributed quickly. The user can easily filter out unprocessed surveys.

Background

The topics of sustainability and certification are very important to the company. Some of the products are produced according to cradle-to-cradle principles. “Our suppliers completely disclose which materials are used for production and guarantee that no materials harmful to the health are used for this. The water for production comes from the company’s own water cycle and the electricity used comes from water or solar energy,” says Schmies.

In addition, the licensee manufactures textile products that are STANDARD 100 by Oeko certified. The company works in the Better Cotton Initiative, where farmers are trained to produce cotton in an environmental-friendly way, thereby increasing their income. The management is also committed to the Organic 100 Content Standard (OCS) and operates under the Global Organic Textile Standard (GOTS).

The enterprise is also part of the Amfori Business Social Compliance Initiative (BSCI). This means that the company not only commits itself to high social standards and sustainability, but also ensures compliance with social and labour law conditions by auditing its production partners.

 

 

Oceaneering chooses BlueBotics navigation technology

Posted on by David Priestman

Oceaneering International has chosen BlueBotics, S.A, to provide navigation technology for its line of industrial autonomous mobile robots.

“Our goal is to unlock the full potential of mobile robotics and enable widespread adoption in all industries,” said Henny Bouwmeester, Vice President and General Manager of Oceaneering Mobile Robotics. “To achieve this, our technology offering needs to be accessible, easy-to-use, and flexible to accommodate our client’s needs.

“BlueBotics, with its proven technology that requires little to no additional infrastructure, will be an integral part of our solution stack and is highly complementary to our product and service offerings.”

“We are delighted to partner with Oceaneering, one of the leading AGV producers in North America and Europe,” said Dr. Nicola Tomatis, CEO of BlueBotics. “With our customer-focused approach, proven ANT navigation technology, and close technical support, we see strong synergies between our companies, and we look forward to helping Oceaneering’s team bring numerous successful ANT driven vehicles to market.”

Blue Yonder and Snowflake partner to unlock SCM data

Posted on by David Priestman

Blue Yonder, a leader in digital supply chain and omni-channel commerce fulfilment, and Snowflake, the Data Cloud company, have formed a partnership to transform access to disparate data for supply chain management.

Blue Yonder’s Luminate Platform, Powered by Snowflake, is an end-to-end supply chain solution that enables retailers, manufacturers and third-party logistics providers (3PLs) to better predict, prevent and resolve disruptions across their business in order to mitigate risks and tackle growing industry supply chain challenges.

Blue Yonder is partnering with Snowflake for its unique ability to meet the diverse requirements of Luminate customers and its shared vision to eliminate data silos in the industry. The two companies will collaborate to address the evolving supply chain needs of joint customers with the goal of making data more accessible and actionable.

Bringing together Blue Yonder’s Luminate Platform and the Snowflake Data Cloud will empower joint customers with an end-to-end visibility into their supply chain for faster, more accurate and informed decision making. Starting with Luminate Control Tower and Luminate Demand Edge, joint customers will be able to use a single-source data infrastructure that eliminates workstream siloes and provides real-time, end-to-end orchestration across planning, execution and commerce.

In addition, as part of the partnership, Blue Yonder will leverage Snowflake’s newly announced Retail Data Cloud, which unites Snowflake’s integrated data platform, Snowflake- and partner-delivered solutions, and industry-specific datasets and models.

Now Powered by Snowflake, Luminate Platform will provide:

  • Scalability. Blue Yonder’s customers will be able to quickly aggregate and transform data, build out machine learning (ML) models, and ingest data into the platform for faster processing and better scalability.
  • Speed. Customers will be able to process data much faster, enabling comprehensive insights and automated decisions that drive more effectiveness and efficiencies across their organisations.
  • Reduced data redundancies. Organisations will be able to work from a single source of data truth. This eliminates disparate data and siloed workflows across applications to ensure common data usage and integrated workflows.

“In today’s dynamic environment, our customers need to have a single source of truth at their fingertips to better manage disruptions and understand the impacts – both short- and long-term – of decisions made within their supply chains,” said Mark Morgan, Interim CEO, Blue Yonder.

“By partnering with Snowflake, we are able to help our customers transform their access to disparate data – and how they leverage it – so they can better predict and pivot before disruptions occur, understand any potential impacts, and put in place prescriptive steps to mitigate risks to get back on-track to meet customer expectations.”

“Our partnership with Blue Yonder will help prepare the supply chain across retailers, brands, manufacturers, and 3PLs with a data-driven future,” said Rosemary Hua, Global Industry Lead, Retail and CPG at Snowflake.

“With Luminate Platform, Powered by Snowflake, joint customers can uncover a single source of truth from planning through execution, connecting their business from end-to-end to reduce supply chain risks, enhance customer experiences, and help drive business growth.”

Blue Yonder’s Luminate Platform is a single-source data infrastructure that eliminates workstream siloes and provides end-to-end supply chain visibility and orchestration across planning, execution and commerce. Blue Yonder’s Luminate Control Tower functions as the nerve centre of the platform, providing end-to-end visibility for faster, more accurate and more automated decision making.

Luminate Platform leverages artificial intelligence (AI) and ML to empower users with prescriptive resolutions to disruptions and challenges, taking prioritisation and impact analysis into account to reduce supply chain risks, optimise inventory positions, reduce logistics costs, and maximise customer experiences and revenue.

Datalogic acquires Czech algorithm developer

Posted on by Keith McKinley

Datalogic S.r.l. has acquired the entire share capital of Pekat S.r.o. With its registered office in Brno in the Czech Republic, Pekat is a start-up founded by Petr Smid, the majority shareholder of the company, who has developed proprietary algorithms that use machine learning and deep learning for the automation of processes in the manufacturing, transportation and logistics sectors, with further potential for managing retail applications.

Pekat’s product is a highly innovative software based on proprietary algorithms that can be adapted and proposed in different fields of application, and compatible with different devices and platforms. Pekat’s software package perfectly combines with Datalogic’s hardware product lines. The joint offer will allow Datalogic to widen its product range with cutting-edge and easy-to-integrate solutions, to be offered to customers across industries to increase productivity and support their growth. The hardware-agnostic software can be used on third-party devices and platforms at the same time.

“We are excited about this acquisition, aimed at consolidating our machine and deep learning skills and enhance our hardware product range with solutions based on high-performance algorithms,” stated Valentina Volta, Group CEO of Datalogic. “Thanks to Pekat’s know-how and staff, Datalogic will continue to expand its software offering by developing additional algorithms.

“Customers are increasingly implementing automated solutions to enable their workers to focus on more complex and higher-value tasks. Machine learning and deep learning are key technologies to help them achieve this goal. Being able to count on the newly acquired Pekat, at a time of great challenges such as those imposed by the current global scenario, also enables us to evolve towards artificial intelligence (AI) solutions, which will be fundamental in meeting the constantly evolving needs of our customers.

“2022 is a fundamental year for Datalogic as it marks the 50th anniversary of its establishment, which we will also celebrate with the acquisition of Pekat. This acquisition proves Datalogic’s desire to strengthen its position as an innovator and to pursue its growth strategy, always looking for cutting-edge solutions for its customers.”

Petr Smid added: “At Pekat, we believe that tools such as artificial intelligence and machine vision improve the efficiency of processes in a wide variety of industries, with huge benefits for customers. By using artificial intelligence, computer vision and machine learning, automation will make the world better and faster.

“Our technology is independent from application areas and permits autonomous processes in different sectors, from production to transportation and logistics, up to retail. We are proud to join forces with Datalogic to expand the business worldwide.”

The value of the transaction amounts to €16m for the entire share capital, today held by a plurality of shareholders, the majority consisting of the founder and employees of the company, who will become part of the Datalogic Group. The acquisition is financed with available cash of the purchasing entity, without need for additional external sources of financing.

A part of the purchase price will be deposited in escrow and released within an agreed period of time upon the occurrence of certain conditions.

 

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