Urbint, the market leader in artificial intelligence (AI) for gas safety and risk reduction, acquired Opvantek, a provider of risk-based asset management solutions for gas, electric, and telecommunications utilities.
The amount of the deal was not disclosed.
The combination of the two technology solutions will accelerate the ability to deliver a more powerful enterprise risk platform in the industry.
Urbint and Opvantek’s collective product suite addresses some of the largest risks gas operators face including integrity management, main replacement, damage prevention, methane leaks, cross bores, cathodic protection, corrosion, and worker safety.
Opvantek, whose customers include some of the country’s largest utilities, such as Con Edison, Exelon, Dominion, and NiSource, is now a wholly-owned subsidiary of Urbint and will continue to operate from its headquarters in Yardley, Pennsylvania, with shared resources and support from the acquiring company.
Led by Corey Capasso, CEO and founder, Urbint provides utilities and infrastructure operators with a software solution that leverages AI to get access to insight into the external factors that drive risk on distribution pipeline systems and the tools to maximize risk-reduction through intelligent resource allocation and decision-making.