Germany’s Software AG buys AI-driven time-series data analytics firm TrendMiner to bolster their IoT offerings.
Software AG is adding TrendMiner to its ioT porfolio, adding the firm’s time-series data analysis to its existing IoT offerings, via its Cumulocity Internet of Things (IoT) platform.
Founded in 2008, TrendMiner specializes in visual data analytics for the manufacturing and process industry and will complement Software AG’s Cumulocity IoT and Industry 4.0 product portfolio. Immediately after deployment, TrendMiner’s plug-and-play software adds significant value without the need for support from IT specialists or data scientists. It implements manufacturing companies and the process industries to quickly and easily recognize patterns and trends in their process data, classify production irregularities, and modify necessary process adjustments.
Following its acquisitions of AI specialist Zementis in 2016 and of Cumulocity IoT 2017, Software AG’s acquirement of TrendMiner is consolidating its preeminent position as the IoT market rapidly advances using time-series IoT data, delivering findings in a user-friendly format via methods such as diagnostic, visual and predictive advanced analytic AI algorithms.
“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,” said Software AG CEO, Karl-Heinz Streibich. “Together, we will be able to offer a leading streaming and visual time-series analytics platform – a unique combination.”
TrendMiner’s expertise stands in development and consulting of pattern recognition and analytics functionality for oil and gas, life sciences and manufacturing sectors. Its customer base includes many global market leaders such as Total, BASF, Evonik, Covestro and Pfizer and the companies customers are 50% of the top 50 companies of the chemical industry.
“We believe every industry, but especially manufacturing and process industries, will be significantly transformed in this Internet of Things era,” said Bert Baeck, CEO and co-founder of TrendMiner, adding that they are “very excited with the opportunity to leverage the resources and proven IoT portfolio that Software AG delivers.”