SKF Acquires Software Development Start-up

GOTHENBURG,Sweden,Nov. 11,2019 -- SKF has completed the acquisition of Form Automation Solutions (FAS),a US-based software development start-up company.

FAS has developed GoPlant,a mobile-based asset inspection and data collection solution used in industrial applications. The technology will be integrated into SKF's existing mobile solutions and Rotating Equipment Performance offering.

John Schmidt,President,Industrial Sales,Americas,says: "By making the technology behind the GoPlant software a part of our offering,we will strengthen our customers' task management and inspection ability,turning the manual data collection process into actionable information for the operator. This supports our aim of helping them improve the performance and output of their machinery."

Aktiebolaget SKF

(publ)

For further information,please contact:

PRESS: Theo Kjellberg,Director,Press Relations

tel: +46-31-337-6576,mobile: +46-725-776576,e-mail: theo.kjellberg@skf.com

INVESTOR RELATIONS: Patrik Stenberg,Head of Investor Relations

Patrik Stenberg,+46-31-337-2104; +46-705-472-104; patrik.stenberg@skf.com

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