ReliaSoft Acquired by Spectris plc
TUCSON, AZ (January 23, 2015) - ReliaSoft, an industry leader in reliability engineering software and services, has confirmed today that the ownership of ReliaSoft will transfer to Spectris plc where it will be integrated with HBM nCode, a fast growing engineering software business within the Spectris Test and Measurement segment and global leader in providing technology and software products for durability and performance analyses. Established by Pantelis Vassiliou in 1992, and headquartered in Tucson, Arizona, ReliaSoft has become a leading provider of reliability engineering software and solutions to major "blue chip" customers in many industries worldwide including automotive, aerospace, chemical processing, oil and gas, electronics, energy and defense. ReliaSoft has been growing rapidly and has significant opportunities to accelerate its growth because its technology enables manufacturing and processing companies to improve product reliability, enhance their productivity and improve their return on investment. ReliaSoft’s success can be attributed to its continued focus on providing innovative, high quality and technologically advanced solutions to its clients.
HBM nCode is a well-respected and long-established supplier of durability software and solutions. This transaction will strengthen HBM nCode’s growing engineering software business within Spectris's Test & Measurement segment and will build on the strong brand recognition and reputation of both ReliaSoft and HBM nCode. ReliaSoft will benefit from the investment and global network that will come with being part of HBM nCode and the Spectris organization as it looks to achieve faster growth. Headquartered and listed in the UK, the parent organization Spectris has annual revenues of over $2 billion and employs over 8,000 people in more than 30 countries.
"This is a strategic move for ReliaSoft," said Kyriacos Kyriacou who leads the management team at ReliaSoft. "There are many advantages to becoming part of a global group. The leadership team at HBM nCode has a strong interest in developing and investing in ReliaSoft’s technology and its highly talented workforce. Not only will we retain all jobs in Tucson, but we will have the opportunity to accelerate ReliaSoft’s growth and expansion into key international markets."
About ReliaSoft Corporation
ReliaSoft was established in 1992 by Pantelis Vassiliou in Tucson, AZ. ReliaSoft has evolved into a global reliability solutions company that offers a comprehensive range of software and services dedicated to meeting the reliability engineering and quality needs of product manufacturers and maintenance organizations worldwide. ReliaSoft is the largest global organization focused exclusively on reliability engineering. It is a leading provider of reliability engineering software, education, consulting and related services dedicated to meet the reliability and quality needs of product manufacturers and maintenance organizations worldwide. ReliaSoft is headquartered in Tucson, Arizona, with operations in Poland, Singapore and India plus a global distributor network. ReliaSoft has 86 permanent, full-time employees worldwide, of which about 59 are located in Tucson. For more information, visit www.ReliaSoft.com.
About HBM nCode
With over 30 years' experience, HBM nCode provides a unique world leading capability to deliver software products and services/consultancy that enable organizations to automatically analyze, interpret and manage high volumes of measured data to provide durability and operational performance information about their products and equipment. This allows organizations to improve their understanding of product integrity and performance, avoid unexpected "in service" failures, predict component life and performance, improve safety, reduce maintenance and warranty costs, extend equipment life, provide a sound basis for future designs and modifications, create more durable products and reduce life cycle costs. HBM nCode has operations in Michigan, Mississippi, Sheffield (UK), Paris (France) and Darmstadt (Germany). Its global customer base, together with Spectris's large global footprint, spans a diverse range of end user markets. HBM nCode employs over 100 people. For more information, visit www.ncode.com.
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