Software AG acquires TrendMiner to expand IOT portfolio through time-series data used in AI algorithms
* TrendMiner offers an intuitive self-service analytics platform for time-series-based data.
* TrendMiner enables domain experts to analyse, monitor and predict the performance of manufacturing processes.
* Software AG will integrate TrendMiner portfolio into its leading Cumulocity IOT platform.
Software AG (Frankfurt TecDAX: SOW) today announced its acquisition of TrendMiner. Founded in 2008 and based in Hasselt, Belgium.
TrendMiner specialises 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 recognise 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 organisations 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% 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.