Syncron, a supplier service parts and contracts management including inventory, pricing, and internet-of-things-based preventive repair monitoring services, has acquired Mize Inc., a provider of field service management and warranty management service. Syncron is backed by Summit Partners.
“Product-related services have become the lifeline of manufacturers’ EBITDA and net margins,” said Friedrich Neumeyer, CEO, Syncron. “Protecting end customer brand experience is of pivotal relevance for every manufacturer. Together we can help create higher margin businesses, and recurring revenue from subscription and outcome-based business models.”
As a part of this arrangement, Ashok Kartham, founder and CEO of Mize, will join the Syncron executive management team as the company’s chief product officer overseeing all product and development for Syncron.
“Manufacturers today use disparate systems to manage their service and parts business leading to silos of data, disconnected processes, and lower profitability. The combination of Syncron and Mize for the first time brings the leading service and parts management platforms together to maximize value to the customers,” said Kartham. “With a unique ability to have one common real-time view on service parts, field service workforce, service histories, parts data, and pricing, we can provide a new level of value creation for our customers unmatched in the industry.”
“We have recognized Mize and Syncron both as a leader in several areas,” said Aly Pinder, Lead Analyst of IDC. “We expect both companies to be able to further strengthen a joint position by creating customer innovations around fully integrated service lifecycle management processes proving value beyond individual products which I have been emphasizing for years.”
“Manufacturing is going through acceleration of digitization and business model disruption,” said Léo Apotheker, chairman of the board, Syncron. “Service experiences as a sustainable differentiator is at the top of every C-level agenda. Coupling the talent, expertise, and products of Syncron and Mize will empower the changes manufacturers need to compete effectively throughout this transition and best position themselves competitively.”