AEM Acquires Data Analytics Company
04 January 2018
Reflecting a time when the use of data is transforming the manufacturing industry, the Association of Equipment Manufacturers (AEM), Milwaukee, Wis., announced that it has purchased Minneapolis-based Hargrove & Associates, Inc. (HAI) a data processing and business analytics company. The acquisition, AEM said, allows the association to enhance and build upon its statistics program to better meet the needs of its membership.
AEM has been an HAI client since 1989. Both organizations believe this is an opportunity to further develop the relationship and the statistics platform.
“This investment is part of our commitment to our strategic plan which includes further developing our statistics program – a benefit of AEM membership,” said Dennis Slater, president of AEM. “Insights gained by our members through participation in AEM’s statistic program give them an advantage in an increasingly competitive global marketplace. Through investment in HAI we look to sharpen this competitive advantage.”
According to Claire Hargrove, president of HAI, “We are looking forward to how this deepening of our 30 year working relationship with AEM will position both of our groups for exciting growth and technological opportunities while maintaining our strong commitment to the data program so valued by the equipment industry.
“HAI will operate as a stand-alone subsidiary of AEM in its current Minneapolis office. We foresee no changes to how HAI currently works with its customer base or handling of data,” said Hargrove. “HAI will continue to maintain sole access and handling of company data. AEM staff will not handle or have access to company data.”
In addition to customer care and support, HAI employees will collaborate with AEM on projects using advanced data analytics that is expected to bring additional value to AEM members.