GP Strategies Acquires Rovsing Dynamics Expanding Condition Monitoring Technology Offering
ELKRIDGE, Md., Sept. 26, 2012 /PRNewswire/ -- Global performance improvement solutions provider GP Strategies Corporation (NYSE: GPX) announced that it has completed its acquisition of operating assets of Rovsing Dynamics, a provider of vibration condition monitoring hardware and software. The Rovsing Dynamics technologies enable owners and operators of rotating machinery to manage equipment downtime by providing early detection of developing faults. The acquisition also includes Rovsing Dynamics' contract backlog and personnel.
- Adds a new office location in Copenhagen, Denmark for GP Strategies and retains Rovsing Dynamics' business and technical personnel.
- Augments GP Strategies' EtaPRO™ Performance & Condition Monitoring System by adding on-line predictive vibration condition monitoring and diagnostics using Rovsing Dynamics' OPENpredictor™ and AutoDiagnosis™ applications.
- Extends GP Strategies' global performance engineering reach into Russia, Brazil and China for oil and gas, maritime and wind power industry services.
"The addition of the Rovsing Dynamics technologies completes a trifecta of performance and condition monitoring technologies to include vibration, thermodynamics and predictive analytics. While each of these technologies is powerful in its own right, combining the three provides a more complete picture of the health of a machine or process," said Richard DesJardins, Vice President of GP Strategies' Energy Services Group.
"Joining GP Strategies provides opportunities for offering OPENpredictor to their clients and allows us to broaden our offering to include EtaPRO technologies," said Thea Larsen, CEO, Rovsing Dynamics. "Customers will benefit from a combined four decades of performance and condition monitoring experience and expertise gained by the two companies."
Additional information may be found at http://www.rovsing-dynamics.com/.
About Rovsing Dynamics
Rovsing Dynamics creates value by combining predictive operational information with dynamic business information for decision makers in the maritime, power generation and oil & gas industries, using OPENpredictor™ as information source, making information available to equipment operators that enable them to reduce service downtime and enhance equipment availability, increasing revenue potential and profitability.
Rovsing Dynamics operates in the global and technologically advanced market for condition monitoring systems, and develops, supplies and supports a best-in-class software-based system—OPENpredictor™—for automated condition monitoring and predictive fault diagnosing for rotating and reciprocating machinery such as turbines, generators, gear boxes, and pumps. Solutions and services are offered worldwide.
About GP Strategies
GP Strategies Corporation (NYSE: GPX) is a global performance improvement solutions provider of sales and technical training, eLearning solutions, management consulting and engineering services. GP Strategies' solutions improve the effectiveness of organizations by delivering innovative and superior training, consulting and business improvement services, customized to meet the specific needs of its clients. Clients include Fortune 500 companies, manufacturing, process and energy industries, and other commercial and government customers. Additional information may be found at www.gpstrategies.com.
We make statements in this press release that are considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. These statements reflect our current expectations concerning future events and results. We use words such as "expect," "intend," "believe," "may," "should," "could," "anticipates," and similar expressions to identify forward-looking statements, but their absence does not mean a statement is not forward-looking. These statements are not guarantees of our future performance and are subject to risks, uncertainties, and other important factors that could cause our actual performance or achievements to be materially different from those we project. For a full discussion of these risks, uncertainties, and factors, we encourage you to read our documents on file with the Securities and Exchange Commission, including those set forth in our periodic reports under the forward-looking statements and risk factors sections. Except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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SOURCE GP Strategies Corporation