Thursday 5 December 2019
 
»
 
»
Story

Antonio Pietri

Aspen in deal to acquire Canadian AI group Mnubo

DUBAI, July 21, 2019

Aspen Technology, a global leader in asset optimisation software, said that it has signed an agreement, worth C$102 million ($78.02 million), to acquire Mnubo, a Canada-based provider of purpose-built artificial intelligence (AI) and analytics infrastructure for the Internet of Things (IoT).

Mnubo enables industrial companies to assemble and deploy AI-driven IoT applications quickly, at enterprise scale.

The Mnubo technology will accelerate the realisation of AspenTech’s vision for the next generation of asset optimisation solutions that combine deep process expertise with AI and machine learning.

The acquisition is expected to close within the next five business days, it said.

In addition to deploying AI-powered applications, the ability to visualise vast quantities of information and analysed data is critical to the evolution of the smart enterprise.

To further enhance these capabilities AspenTech has acquired Sabisu, a UK-based company that provides a flexible enterprise visualisation and workflow solution to deliver real-time decision support.

These acquisitions will enable AspenTech to accelerate the distribution of embedded AI in both its existing and future solutions.

By combining first principle engineering models and deep process expertise with AI capabilities, these solutions will enable the automation of knowledge and data-driven decision-making for continuous improvement across the design, operation and maintenance lifecycle of industrial assets, said the statement. 

Antonio Pietri, president and chief executive officer of Aspen Technology, said: “With the current pressures on margins, our customers need to yield higher outputs and drive higher efficiencies with existing assets.”

“When expertly applied, AI offers a significant competitive advantage in managing operations to the limits of performance without compromising safety. By bringing the deep domain expertise of our company together with Mnubo AI-driven IoT expertise and Sabisu visualisation, we can deliver innovation that helps our customers drive greater value from their existing data at scale,” he said.

“The actionable insights from AI powered applications will help our customers to achieve a truly smart enterprise. I am delighted to welcome the highly talented teams from both Mnubo and Sabisu to our company,” he added.

Frédéric Bastien, co-founder and chief executive officer of Mnubo, said: “The global adoption of AI and IoT technologies is powering the next wave of industrial-digital enterprises.”

“Our company’s AI and analytics infrastructure was purpose-built to accelerate the digital transformation of traditional industries by democratising the power of artificial intelligence and machine learning,” he added.

Tim Sharpe, co-founder and managing director of Sabisu, said: “Our company can aggregate performance data from multiple sources, from historians to spreadsheets, from across the plant, country or world.”

“When made available to engineering, operations, planning and maintenance teams, the comprehensive analysis can be used to significantly enhance uptime and efficiency,” he said.

“We are excited to join AspenTech and develop our technology to achieve actionable data insights that have been previously unobtainable,” he added.-TradeArabia News Service




Tags:

More Industry, Logistics & Shipping Stories

calendarCalendar of Events

Ads