SKF has signed an agreement to acquire G-Tech Instruments Inc., a leading specialist within condition monitoring and measuring instruments technology. The acquisition is a key step for SKF in leveraging digitally enabled reliability solutions to strengthen its end-user and aftermarket presence as well as deepen customer value and engagement across critical industries, including marine, railway, heavy industries, energy, and food and beverage. By acquiring G-Tech, SKF will enhance its condition monitoring offering, one of three priority areas within the Group’s service business. G-Tech’s advanced diagnostic solutions complement SKF’s current portfolio, thereby enabling the development of a single, integrated ecosystem that allows customers to detect issues early, plan proactive maintenance, and improve equipment cost of use, performance and uptime. “An important part of our strategy to reignite growth is value accretive bolt-on M&A. This acquisition delivers that. It also underlines our commitment as a leader to scale our service business through innovative, intelligent solutions, providing customers additional innovative condition monitoring and reliability solutions,” says Rickard Gustafson, president and CEO. Furthermore, G-Tech’s established presence in Asia and scalable product roadmap is expected to unlock new business opportunities for SKF. The acquisition also supports SKF’s future product development as well as secures valuable intellectual assets. Founded in 1998, G-Tech is headquartered in Taiwan and has emerged to a technology leader in its field with critical IP of vibration analyzers, diagnostic tools, and condition monitoring systems. G-Tech is a supplier to SKF and has 50 employees.