The deal sees IBM taking 100% ownership of Prescinto from its promoters and other shareholders.
IBM (Company) has acquired Bengaluru-based Prescinto Technologies, a leading provider of asset performance management (APM) software-as-a-service (SaaS) for renewable energy assets. The acquisition strengthens the Company’s Maximo Application Suite, boosting its leadership in energy and utilities management, with a focus on renewable energy optimization.
AZB & Partners advised Prescinto on the transaction, with a team led by Senior Partner Anil Kasturi and Partner Ashish Pareek, supported by Senior Associates Kaushal Prabhat, Anisha Dash, and Shubham Toshniwal, and Associates Mohit Sharma and Nitin Kumar Verma. The team also received expertise on intellectual property matters from Senior Partner Akhilesh Kumar Rai and Associate Ritul Singh.
This acquisition is set to significantly enhance the capabilities of Company’s Maximo Application Suite (MAS), a solution for managing the lifecycle of assets. It further cements IBM’s leadership in the evolving energy and utility sector, an industry undergoing rapid transformation as it seeks innovative ways to manage and optimize renewable energy assets such as wind, solar, and energy storage systems. IBM’s MAS is already used by a wide array of global energy enterprises across various sectors, including water, natural gas, oil, and nuclear energy.
The acquisition will also support IBM’s commitment to sustainability and helping clients achieve their net-zero goals. Prescinto’s advanced renewable APM software will enable real-time tracking of the performance of solar, wind, and energy storage assets. The software uses AI-driven analytics to monitor asset health, identify issues before they impact performance, and recommend actions to optimize energy generation. For example, it can detect the impact of dirt and debris accumulation on solar panels and prompt cleaning, ensuring sustained energy output.
Founded in 2016 by Puneet Singh Jaggi, Sanjay Bhasin, Ramadas C Menon, and Suresh Jangra, Prescinto has developed APM solutions that help organizations optimize operations and maximize ROI, managing a total of 16 gigawatts of renewable energy assets across 14 countries. This acquisition marks IBM’s fourth purchase of an Indian company, following its 2016 acquisition of cloud-computing firm Sanovi Technologies.
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