Sandvik invests in AI manufacturing software provider 19 January 2021

Engineering group Sandvik has acquired a minority stake in US manufacturing solutions company Oqton.

Oqton provides a cloud-based platform that links data across manufacturing – from design, to production, to logistics – to help users understand, optimise and drive these processes. This platform combines order tracking, computer-aided manufacturing (CAM), scheduling, manufacturing execution systems (MES), internet of things (IoT) technologies and production traceability into one platform. Users can also link the platform to traditional technologies such as CNC, welding, and post-processing machines to make their processes faster, more adaptable, and more cost-effective, according to Oqton.

Sandvik’s customers– regardless of their size– share similar challenges in manufacturing. It says that they have to strike a balance between flexibility, effective machine use and minimising waste, all while facing a lack of manufacturing insights, can restrain productivity.

“This investment is in line with our strategic agenda to broaden our offering in digital manufacturing. We are looking forward to working with Oqton and finding ways to expand our offering for increased customer productivity by creating new products that take advantage of Sandvik’s extensive know-how of manufacturing processes and Oqton’s AI-powered manufacturing solutions”, says Stefan Widing, president and CEO of Sandvik.

“Sandvik will help us scale globally with both a direct and indirect sales approach. We truly think time has come for the manufacturing space to embrace the cloud and we are working hard to facilitate this,” explains Ben Schrauwen, CEO of Oqton.

The relationship with Oqton will be managed by Sandvik Manufacturing Solutions’ division Design & Planning Automation, within the business area Sandvik Manufacturing and Machining Solutions. The amount of the
investment was not disclosed.

Operations Engineer

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