Stockholm-Listed SKF Acquires Israeli Predictive Maintenance Startup Presenso

Stockholm-listed SKF Group has agreed to acquire Haifa-based predictive maintenance startup Presenso Ltd., the latter announced Monday. The financial details of the acquisition were not disclosed.

Founded in 2015, Presenso develops predictive machine learning algorithms designed to anticipate industrial machine failures. The company has raised $3 million to date. All of Presenso’s employees will be integrated into SKF, according to the company’s statement.