Simpson Thacher represented Prometheus Group in connection with its acquisition of Atonix Digital. The transaction closed on March 23, 2023. The financial terms of the transaction were not disclosed.
Atonix Digital provides a cloud-based predictive operations and maintenance analytics platform, AtonixOI (now Prometheus APM), for industrial plant operators, enabling them to avoid unanticipated downtime, prevent equipment and operational failure, improve overall plant efficiency and increase asset performance. Atonix Digital serves over 50 customers representing over 400 industrial sites including manufacturing, power generation, chemical, oil and gas, as well as water treatment plants, and has detected over 60,000 issues resulting in over $890,000,000 of savings.
The Simpson Thacher team includes Michael Kaplan, Kristin Rulison, Sunny Perkins and Michael Ruttenberg (M&A); Tristan Brown, Harry Hudesman and Allison Sutherland (ECEB); Sophie Staples and Ruoxi Zhang (Tax); Jessica Cohen, Alysha Sekhon and Sarika Pandrangi (IP); and Steven Delott (Insurance).