- AB SKF SKFRY has completed the acquisition of Rubico Consulting AB, an industrial consultancy firm specialized in visualization and analysis of signal data, with ten employees based in Luleå, Sweden. Deal terms were not disclosed.
- Rubico Consulting's signal processing will be integrated into SKF's offer around the rotating shaft and powering new technology areas such as bearings with fiber-optic sensors.
- SKF held cash and cash equivalents of SEK 11.76 billion as of 30 June 2021.
- "The patented edge algorithm developed by Rubico simplifies and automates analysis of machine data and is an enabler for wireless, energy-efficient systems," commented Victoria Van Camp, President, SKF Technology.
- Price Action: SKFRY shares closed higher by 1.22% at $25.75 on Monday.
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