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In another deal for the consolidating asset management field, PAS announced on October 7 its merger with Dynamic Optimization Technology Products (DOT), terms undisclosed.
PAS provides software that helps process industry clients model their operations, maximize asset utilization, and alarm abnormal conditions. In a similar business but smaller than PAS, DOT markets proprietary mathematical process modeling and control software. Between the two, they sport an impressive client base including many of the world’s largest petrochemical and refining companies.
We see asset management IT like computerized maintenance management systems (CMMS) and enterprise asset management (EAM) as a growing field, with CIO’s increasingly focusing on specialized applications promising readily definable ROI. Another wind behind asset management’s back is the global economy’s currently reduced rates of demand, inspiring many industries to turn to cost control.
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