Elisa Invests in Belgium based TenForce

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Elisa has made a strategic investment to hold a majority stake in TenForce, a Belgian provider of EHSQ and operational risk management software.

While continuing as an independent company, TenForce will become part of the Elisa IndustrIQ business area. This partnership will help TenForce to accelerate its growth and development plans through access to complementary AI/ML capabilities and a global network of manufacturing industry-focused software companies.

TenForce provides software for process industries to help them improve their environmental, health, safety and quality (EHSQ) performance. It also develops software solutions for utilities and engagement with government. Overall, TenForce has strong experience in digitising business processes, as well as specific skills in semantic technology, machine learning and big data.

“I am very pleased to welcome TenForce to the team of Elisa companies. Together at Elisa IndustrIQ, we make intelligent manufacturing happen by enabling manufacturing companies to transform and optimise their supply chain operations. TenForce brings a complementary offering and skills, especially with their deep understanding of process industries and their critical features. It also expands our customer base. Elisa is committed to helping TenForce to accelerate its growth by boosting development of new capabilities, for instance in the artificial intelligence and machine learning domains, and by providing cross-selling opportunities globally across our growing customer base”, says Lasse Nordlund, Vice President and head of Elisa IndustrIQ.

While TenForce will continue operating as an independent company under its existing leadership, its customers will benefit from the AI/ML capabilities and broader portfolio that Elisa IndustrIQ has to offer, due to Elisa’s modular approach to manufacturing and supply chain offering.

“At TenForce, we have always set ambitious goals for ourselves, and over the past few years, we have been growing successfully. When we were looking for a long-term partner to help us transition to the next level, we decided to choose Elisa, as their investment gives our employees, our product and our customers the opportunity to grow towards a shared intent – making intelligent manufacturing happen. As part of a larger set-up, we see great development potential thanks to our shared technological expertise and the support of the global customer base of the Elisa IndustrIQ companies”, says Jan Van den Nieuwenhof, CEO of TenForce.

Alongside its investment in TenForce and the advancement of industrial software, Elisa will continue to execute its overarching growth strategy in international digital services.

As a brand, Elisa IndustrIQ was recently introduced to represent Elisa’s international industrial software business, which was built around Elisa’s original smart factory capabilities and recently acquired companies.

As a business, Elisa IndustrIQ is here to make intelligent manufacturing happen by focusing on the entire supply chain, from forecasting demand to production execution.

To achieve that, Elisa IndustrIQ provides AI-powered software solutions to help manufacturers of complex, high-volume products to transform and to empower them with new insights and knowledge that can rapidly improve business performance and drive supply chain optimisation.

Its connected data intelligence platform seamlessly connects any machine, application or data source, unifies data for cross-company access, and confidently offers insights, predicts outcomes and provides recommendations – in real time and at scale.