ANSYS (ANSS) Enters Enterprise Licensing Agreement with Flowserve (FLS)
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ANSYS (NASDAQ: ANSS) announced today that Flowserve (NYSE: FLS) signed an enterprise license agreement providing broad access to the ANSYS portfolio and technology specialists. By combining the power of ANSYS simulation technology with the Internet of Things (IoT) capabilities, Flowserve is one of the first companies to harness the power of digital twins – complete system virtual physical prototypes – to better serve its customers through improved product quality and performance, enhanced development productivity, optimized maintenance and reduced overall costs and risks associated with unplanned downtime.
By tapping into ANSYS' industry-leading portfolio of engineering simulation software, Flowserve can now use the digital twin to analyze real-time operational data to provide better insight and faster decision making while maximizing machine efficiency. Flowserve will also be able to analyze the performance of products in real-world operating conditions, make informed predictions about future performance and reduce the cost and risk of unplanned downtime.
Flowserve is pushing the boundaries of simulation beyond the product development phase by utilizing digital twins in a live operating environment. Earlier this year, Flowserve demonstrated the use of the digital twins with one of its flow control systems at the Internet of Things event, LiveWorx. As a leader in developing and manufacturing advanced pumps, valves and seals servicing the oil and gas, energy and process industries, Flowserve is expanding its use of ANSYS solutions to quickly optimize and verify product designs, shorten development cycles and create innovative world-class products.
"Our customers expect Flowserve to bring value added products and services to their business. This strategic agreement better positions Flowserve to continue delivering offerings that enable our customers to operate more efficiently and effectively," said Keith Gillespie, chief strategy officer, Flowserve. "We expect our utilization of IoT technology and ANSYS simulation capabilities to increase the value we provide when our customers need advanced flow solutions."
"IoT is changing the way companies approach the entire product lifecycle from development, testing and manufacturing to operations and maintenance," said Eric Bantegnie, vice president of systems business unit, ANSYS. "Flowserve is extending its industry leadership position using simulation-driven product development and creating additional value for its customers across the full product lifecycle by bringing together the industrial internet and ANSYS' best-in-class engineering simulation software."
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