Fortive's (FTV) Subsidiary Fluke Reliability Acquires Azima DLI
Fortive Corporation FTV subsidiary Fluke Reliability completed the acquisition of Azima DLI. Azima DLI provides subscription-based remote condition monitoring and AI-driven vibration analytics software.
The acquisition aligns with Fluke Reliability's connected reliability approach, which involves merging hardware, software, and remote monitoring services to tackle the reliability demands of assets. Azima DLI's technology empowers enterprises to boost asset uptime, diminish reactive maintenance, and enhance manufacturing operations by supplying accurate predictive insights.
Azima DLI also offers Watchman 360 vibration analytics platform, that identifies specific faults, predicts time-to-failure, and recommends corrective measures. Also, non-essential issues are automatically filtered out, which aids industrial teams in effectively allocating resources during a period of skill shortages.
Fortive Corporation Price and Consensus
Fortive Corporation price-consensus-chart | Fortive Corporation Quote
The acquisition also encompasses remote condition monitoring services that generate maintenance action reports, which improve operational efficiency, curtail downtime and expenses, as well as alleviate challenges posed by limited expertise or reduced workforce.
The acquisition will help Fluke Reliability steer customers away from reactive and rudimentary analysis by shifting them to cutting-edge and scalable predictive maintenance. This reiterates the company's strategic commitment to promoting connected reliability while simultaneously delivering inventive solutions that leverage the transformative capabilities of artificial intelligence and pioneering software-as-a-service technology.
Fortive is a diversified industrial growth company that provides industrial technology and professional instrumentation solutions on a global basis. Going ahead, the company aims to tackle the overall cyclicality of its businesses by investing in multiyear megatrends, like automation, digitization and electrification.
FTV plans to expand its market position in line with secular growth trends. The company has transitioned its software offering in line with the growing demand for artificial intelligence and machine learning. The acquisition of eMaint Enterprises by Fortive’s subsidiary, Fluke and the buyout of Global Traffic Technologies has allowed FTV to enter the rapidly growing cloud computing market.
Fortive currently has a Zacks Rank #2 (Buy). Shares of the company have gained 22.3% in the past year compared with the sub-industry’s rise of 7.9%.
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Other Stocks to Consider
Some other top-ranked stocks in the broader technology space are Woodward WWD, Aspen Technology AZPN and Badger Meter BMI. Woodward presently sports a Zacks Rank #1 (Strong Buy), whereas Aspen Technology and Badger Meter currently carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Woodward’s fiscal 2023 earnings per share (EPS) has increased 15.9% in the past 60 days to $4.15.
WWD’s long-term earnings growth rate is 13.5%. Shares of WWD have gained 26.1% in the past year.
The Zacks Consensus Estimate for Aspen Technology’s fiscal 2024 EPS has increased 5.8% in the past 60 days to $6.58.
Aspen Technology’s long-term earnings growth rate is 17.1%. Shares of AZPN have declined 8% in the past year.
The Zacks Consensus Estimate for Badger Meter’s 2023 EPS has increased 6.3% in the past 60 days to $2.86.
Badger Meter’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 6.7%. Shares of BMI have surged 61% in the past year.
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