LMI has acquired predictive analytics software platform provider Clockwork Solutions in efforts to expand its advanced analytics service offerings and invest in asset performance management capabilities.
Terms of purchase are not being disclosed, but LMI was looking to acquire a firm with predictive analytics expertise as part of its growth strategy. Texas-based Clockwork Solutions’ services are used to optimize performance, utilization and return on investment for enterprise assets, and the firm’s core values and culture was closely aligned with those of LMI.
“LMI brings innovative solutions to solve the government’s toughest challenges, including the delivery of affordable readiness to the warfighter,” said David Zolet, LMI president and CEO. “We’re especially excited to grow our footprint in Austin, Texas, getting closer to both our critical customers and the vibrant innovation ecosystem there.”
Acquiring Clockwork Solutions also allows LMI to expand is offerings in predictive maintenance so its customers can get the most value out of their critical equipment, according to Josh Wilson, vice president of LMI’s Advanced Analytics service line.
And this was a perfect next step for Clockwork Solutions’ employees and customers, the firm’s CEO Will King said.
“In joining the LMI team, our employees will benefit from expanded professional growth opportunities, and our clients will have access to an array of expertise, tools, and technologies to help them meet their predictive analytics business requirements,” King said.
Earlier this year, LMI also acquired government contracting company The Tauri Group, expanding its offerings in national defense and homeland security as part of its growth strategy in defense, preparedness, emerging technologies and life sciences.