Product engineering and industrial design firm Altair announced this week it has acquired Carriots, a Platform as a Service to build IoT applications, for an undisclosed amount.
Altair Engineering has been on an acquisition spree. Prior to Carriots, it acquired four companies during 2016-17 that include MODELiiS, Solid Iris Technologies, CEDRAT SA, and AWE Communications. Most of the acquisitions except Carriots were in electrical engineering and software development niche.
Research Nester estimates the global IoT market to reach $ 724.2B by 2023 and Carriots’ acquisition will let Altair enter this promising niche. “We are combining Altair and partner technologies with the Carriots platform to become a leader in IoT, including applications to support our customers’ digital twin strategies,” said James R. Scapa, Altair’s Founder, Chairman and CEO.
DataRPM, cognitive predictive maintenance company for the industrial IoT (IIoT) market was acquired by Progress Software Corp on March 29, 2017 for $ 30m. Progress Software is an application development and deployment technology company. The acquisition will help Progress develop cognitive-first applications.
The startup offers both cloud-based and an on-premise solution. A major use case of DataRPM is equipment failure prediction by using its predictive modeling technology. It detects random and unknown failures using unsupervised and semi-supervised machine learning techniques, including Meta Learning which involves learning from experience and feedback. DataRPM’s patented technology consists of real-time business intelligence using search-based analytics engine.
Jaguar, and Samsung are among the two key customers of the company in the IIoT market.
Prominent technology leaders like Amr Awadallah, founder & CTO Cloudera, and Bill Schmarzo, CTO at Dell EMC are among the board members of DataRPM. Amr Awadallah was also an angel investor in DataRPM’s Series A funding round.
Recently, a Poland-based industrial IoT startup Elmodis also entered the M2M predictive analytics space. It targets OEMs (Original Equipment Manufacturers) and industries such as manufacturing, mining, energy, and oil & gas raised $ 4.9M. Elmodis plans to expand their sales to the U.S market.