Altair (Nasdaq: ALTR), a Troy, MI-based provider of computational science and artificial intelligence (AI) solutions, acquired RapidMiner, a Boston, Massachusetts-based provider of advanced data analytics and machine learning (ML) software.
The amount of the deal was not disclosed.
With the acquisition, Altair will strengthen its data analytics (DA) portfolio. RapidMiner reinforces Altair’s DA market position in several verticals – especially manufacturing and financial services – through industry expertise and industry-specific ML techniques and data source connections. RapidMiner will be integrated with existing tools, such as Altair Knowledge Studio, Altair SmartWorks, and Altair SLC, to provide a comprehensive, code-optional, multi-language, SaaS-ready, cloud-scale platform for enterprise data analytics and data science.
Led by founder and chief technology officer Dr. Ingo Mierswa, who will join Altair, RapidMiner is a SaaS based low-code platform that’s used by more than one million people of all skill levels to develop production-scale data pipelines and ML models. It provides hundreds of drag-and-drop building blocks to transform and augment data – accelerating work for coders and non-coders alike – and its flexible delivery models provide users and enterprises with the scale they need, from a user’s desktop to on-premises servers to secure, multi-tenant cloud.
Led by CEO James R. Scapa, founder and chief executive officer, Altair is a global leader in computational science and artificial intelligence (AI) that provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics, and AI. Its solutions enable organizations across all industries to compete more effectively and drive smarter decisions in a connected world – all while creating a greener, more sustainable future.