SR Technics and Vietjet Air sign a Memorandum of Understanding worth US$150 million
As part of the restructuring measures aiming to mainly focus on engine services, SR Technics is pleased to announce the management buyout of Armac Systems, the SR Technics subsidiary that has provided inventory optimization software and consulting services since its acquisition in 2014.
Over the past decade, the powerful inventory planning, decision support and optimization capabilities of Armac’s RIOsys software were developed and refined in close collaboration with SR Technics’ Component Services. As Integrated Component Services is now ramping down, there is no longer a critical need for the services that Armac Systems provides to be retained as an in-house capability. In this regard, the launching of Armac Systems as a separate entity is part of a new company-wide strategy of SR Technics to build a focused engine services portfolio that meets customer needs on a dynamic market.
Micheál Armstrong and Mark Stacey, the heads of Armac Systems, have been strong supporters of the buyout, as has SR Technics Chief Executive Officer and Armac Systems board member Jean-Marc Lenz. With a platform that optimizes the supply chain right from demand forecasting through to provisioning and deployment, the company is well positioned to integrate with its customers current system landscape. Additionally, its proprietary software, RIOsys, will form a core component of the supply chain digital transformation complimenting new digital technologies such as predictive analytics and blockchain.
“Armac Systems offers a best-of-breed solution in its class,” said Matthias Düllmann, Chief Financial Officer at SR Technics and member of the board at Armac Systems. “We are grateful for the successful partnership we have had with Armac Systems during the past 6 years, during which we jointly developed a solution that enables data-driven decisions which are of vital importance for every MRO business.”