Altair Announces Completion of Acquisition of RapidMiner

Rhea-AI Summary

On September 16, 2022, Altair (Nasdaq: ALTR) announced the successful acquisition of RapidMiner, a prominent player in advanced data analytics and machine learning software. This acquisition enhances Altair's existing end-to-end data analytics portfolio by integrating RapidMiner's robust desktop and cloud platforms, thereby empowering clients to better understand and automate their data processes. Altair's strategic move positions the company for continued growth in computational science and artificial intelligence.

Positive

• Acquisition of RapidMiner strengthens Altair's data analytics portfolio.
• Integration of RapidMiner's platforms is expected to enhance customer offerings.
• Strategic acquisition positions Altair for future growth in AI and data analytics.

Negative

• None.

TROY, Mich., Sept. 16, 2022 /PRNewswire/ -- Altair (Nasdaq: ALTR), a global leader in computational science and artificial intelligence (AI), has completed the acquisition of RapidMiner, a leader in advanced data analytics and machine learning (ML) software.

RapidMiner's well-established desktop platform and new-to-market cloud platform (multi-tenant and SaaS ready) strengthens Altair's current end-to-end data analytics (DA) portfolio, which already offers customers the power to understand, transform, act on, and automate their data.

Altair is well positioned to execute on the newly acquired technology and continue to grow its existing business.

About Altair

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. Altair enables organizations across all industries to compete more effectively and drive smarter decisions in an increasingly connected world – all while creating a greener, more sustainable future. For more information, visit https://www.altair.com/.

Media contacts
Altair Corporate		Altair Investor Relations
Jennifer Ristic		The Blueshirt Group
+1.216.849.3109		Monica Gould +1 212.871.3927
jristic@altair.com		ir@altair.com
Altair Europe/The Middle East/Africa
Charlotte Hartmann
+49 7031 6208 0
emea-newsroom@altair.com

 

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SOURCE Altair

FAQ

What is the purpose of Altair's acquisition of RapidMiner?

The acquisition aims to strengthen Altair's data analytics portfolio and enhance its offerings in machine learning software.

When was the acquisition of RapidMiner completed by Altair?

The acquisition was completed on September 16, 2022.

How will the acquisition of RapidMiner impact Altair’s business?

The acquisition is expected to enhance Altair's capabilities in data analytics, enabling the company to better serve its customers and drive growth.

What technologies does RapidMiner bring to Altair?

RapidMiner brings a well-established desktop platform and a new cloud platform that are designed for advanced data analytics and machine learning.