Banyan Software, a long-term acquirer and operator of mission-critical software businesses, is pleased to announce that Freedom IoT, a machine intelligence and OEE platform for discrete manufacturers, has joined its portfolio and is combining with The Lake Companies, a manufacturing software developer and Infor Gold Partner.
The combination brings Freedom’s real-time machine intelligence together with Lake’s shop-floor software, advancing Lake’s vision of a single integrated platform that runs the manufacturing shop floor. Freedom IoT will continue to be supported and grown for its existing customers, now with the resources of a larger engineering and support organization behind it.
Freedom IoT connects directly to the machines on a plant floor, more than sixty controller and protocol types across CNC and PLC environments and turns that signal into real-time Overall Equipment Effectiveness: availability, performance, and quality at the level of an individual machine. The platform is software-only and runs on premises or in the cloud, serving leading manufacturers across aerospace and defense, heavy equipment, medical devices, and consumer products.
ABOUT FREEDOM IoTÂ Freedom IoT is a machine intelligence platform that delivers real-time Overall Equipment Effectiveness for discrete manufacturers. With more than sixty machine connectors built over two decades and a software-only architecture that runs on premises or in the cloud, Freedom serves leading manufacturers across aerospace and defense, heavy equipment, medical devices, and consumer products. Learn more at freedomiot.ai
ABOUT THE LAKE COMPANIES
The Lake Companies is a manufacturing software developer and the only Infor SyteLine partner with its own proprietary product suite. Its Trak-Suite products extend the SyteLine ERP platform with shop floor data collection, document intelligence, and analytics. The company achieved Infor Gold Partner status in 2026 and serves discrete and engineer-to-order manufacturers. Learn more at www.lakeco.com.
About Banyan Software, Inc. Banyan Software is the best permanent home for software businesses that serve specialized industries, their employees, and their customers. With a buy-grow-and-hold-for-life approach and a permanent capital base, Banyan acquires and grows companies worldwide, honoring founder legacies and helping portfolio companies modernize through shared AI expertise and operational discipline. Founded in 2016 and headquartered in Atlanta, Banyan operates more than 120 portfolio companies across North and South America, the UK, EU, and APAC, and has appeared on the Inc. 5000 list for five consecutive years.
