Total Specific Solutions acquires RiskSpectrum from Lloyd’s Register

Jul 06, 2022 Sweden
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Total Specific Solutions (“TSS”) has acquired RiskSpectrum, the risk and reliability software solution from Lloyd’s Register, one of the world’s leading providers of professional services specializing in engineering and technology for the maritime industry. This is TSS’s first dedicated software solution for the nuclear energy market.

RiskSpectrum is one of the market leaders with a proven suite of risk methodologies for modeling, quantifying, and monitoring risk and reliability - both projected and in real-time - to ensure continued safe and efficient operations of nuclear plants. Continuous innovation, refinement, and the introduction of new features have enabled RiskSpectrum to remain at the forefront of its market.

Abdelmoula Salah, General Manager at TSS: “We are pleased to welcome RiskSpectrum to TSS. It is a mission-critical software solution for the nuclear energy market. The RiskSpectrum’s risk assessment software solution is paramount for the industry. In fact, the Probability Safety Assessment (PSA) tool is considered the industry standard in many countries. It is a dedicated VMS company making it a real match with TSS. I look forward to helping Ola Bäckström and his team become acquainted with TSS and our Vertical Market Software best practices.”

Nial McCollam, CTO, Llyod's Register Group: “Our strategy at Lloyd’s Register for the coming years is to become the go-to trusted advisor for compliance, performance, and sustainability focusing on the ocean economy. In TSS, we have found a new owner who believes in 'Software for Life', and thus who can guarantee continuity for the company, clients, and employees. RiskSpectrum is a strong company with a highly valued software solution, and we feel that with TSS, it can continue its successful journey.”

Ola Bäckström, Managing Director of RiskSpectrum: “We are very proud of the risk assessment solution we have built over the years. The tool contains many industry-specific elements to cover all the risk management requirements of the nuclear energy market. Around 60% of commercial nuclear power plants worldwide use our software. We are pleased that TSS, the new owner, believes in the value of industry-specific software solutions. We can continue to focus completely on our vertical market and learn best practices on running software companies from TSS.”

RiskSpectrum has more than 30 years of experience in helping maintain safe and efficient operations in complex safety-critical industries. Its software solutions are licensed for use at 60% of the world’s nuclear plants to secure continued safe operations and fulfill regulatory requirements. RiskSpectrum offers safety, licensing, and regulatory expertise supporting facility owners, operators, vendors, and national regulators worldwide. The company has its headquarters in Stockholm, Sweden. Share: