Software AG Acquires TrendMiner to Expand IoT Portfolio Through Time-Series Data Used in AI Algorithms
RESTON, Va.--(BUSINESS WIRE)--Jun 12, 2018--Software AG (Frankfurt TecDAX: SOW) today announced its acquisition of TrendMiner NV. Founded in 2008 and based in Hasselt, Belgium. TrendMiner specializes in visual data analytics for the manufacturing and process industry and will complement Software AG’s Cumulocity Internet of Things (IoT) and Industry 4.0 product portfolio. It enables manufacturing companies and the process industries to quickly and easily recognize patterns and trends in their process data, identify production irregularities, and adapt necessary process adjustments early - without the need for support from IT specialists or data scientists. TrendMiner’s plug-and-play software adds value immediately after deployment.
Following its acquisitions of artificial intelligence (AI) specialist Zementis (2016) and Cumulocity IoT (2017), Software AG’s acquisition of TrendMiner is consolidating its leading position in the rapidly growing IoT market. TrendMiner employs advanced analytics methods such as diagnostic, visual and predictive analytics used in AI algorithms; the technology uses all available time-series IoT data and delivers findings in a user-friendly format.
Karl-Heinz Streibich, Software AG CEO stated, “TrendMiner provides an ideal fit into our Cumulocity IoT portfolio at a strategically decisive moment. We are in a phase of dynamic market development for IoT applications. Together with TrendMiner, we will be able to offer a leading streaming and visual time-series analytics platform – a unique combination.”
Bert Baeck, CEO and co-founder of TrendMiner added, “At TrendMiner, we share Software AG’s vision for enabling organizations to fundamentally leverage the connected world. We believe every industry, but especially manufacturing and process industries, will be significantly transformed in this Internet of Things era. We are very excited with the opportunity to leverage the resources and proven IoT portfolio that Software AG delivers.”
TrendMiner has specific expertise in the development and consulting of pattern recognition and analytics functionality for the oil and gas, life sciences and manufacturing sectors. Its customer base includes many global market leaders such as Total, BASF, Evonik, Covestro and Pfizer. The company has 50 percent of the top 50 companies of the chemical industry as customers.
Headquartered in Belgium, it has sales offices in the Netherlands, Germany and the USA. The company was founded in 2008 as a spin-off of the K.U. Leuven University in Belgium.
About Software AG
Software AG (Frankfurt TecDAX: SOW) helps companies with their digital transformation. With Software AG’s Digital Business Platform, companies can better interact with their customers and bring them on new ‘digital’ journeys, promote unique value propositions, and create new business opportunities. In the Internet of Things (IoT) market, Software AG enables enterprises to integrate, connect and manage IoT components as well as analyze data and predict future events based on Artificial Intelligence (AI). The Digital Business Platform is built on decades of uncompromising software development, IT experience and technological leadership. Software AG has more than 4,500 employees, is active in 70 countries and had revenues of €879 million in 2017.
To learn more, visit www.softwareag.com.
TrendMiner delivers discovery, diagnostic and predictive analytics software for the process industry. TrendMiner software is based on a high-performance analytics engine for process data captured in time series. Through an intuitive web-based client, process engineers and operators can easily search for trends themselves using pattern recognition and machine learning technologies. The TrendMiner plug and play software adds value immediately after deployment, eliminating expensive investments in big data infrastructure and long implementation projects. TrendMiner software can improve efficiency and quality, reduce waste and energy consumption, and optimize production performance across divisions. TrendMiner, founded in 2008, is a software company with global headquarters in Hasselt, Belgium and offices in the Netherlands, Germany, Spain and the U.S.
To learn more, visit www.trendminer.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180612006143/en/
CONTACT: Software AG
Lisa Coulouris, 617-413-7062
Katie Leonowitz, 617-986-5028
KEYWORD: UNITED STATES NORTH AMERICA VIRGINIA
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT INTERNET SOFTWARE
SOURCE: Software AG
Copyright Business Wire 2018.
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