The application development and deployment firm Progress announced Wednesday that it's acquiring DataRPM, a cognitive predictive maintenance firm that serves the industrial Internet of Things (IIoT) market. Progress paid $30 million, including $28.3 million in cash, and $1.7 million in the form of restricted Progress stock.
The acquisition gives Progress predictive analytics capabilities that round out its cognitive apps platform, Progress CEO Yogesh Gupta said in a statement. Cognitive applications will become increasingly important, he noted, as the world generates more and more data.
The DataRPM platform can detect random and unknown failures using a combination of unsupervised and semi-supervised learning techniques. It also uses a technique called Meta Learning to increase the quality, accuracy and timeliness of equipment failure predictions. It can scale horizontally to track any number of industrial machines. DataRPM customers include Jaguar, Samsung and Mitsubishi Heavy Industries.