STOCK TITAN

Altair to Acquire RapidMiner, Continuing Expansion of Broad Data Analytics Portfolio

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Positive)
Rhea-AI Summary

Altair (Nasdaq: ALTR) has announced the acquisition of RapidMiner, a leading platform in advanced data analytics and machine learning software. This strategic move aims to enhance Altair's data analytics portfolio, enabling businesses to leverage machine learning without needing extensive data science expertise. RapidMiner's low-code platform, used by over one million users, will complement Altair's existing offerings and strengthen its position in key sectors such as manufacturing and financial services. The integration aims to deliver a comprehensive, scalable analytics solution for enterprises.

Positive
  • Acquisition of RapidMiner strengthens Altair's data analytics portfolio.
  • RapidMiner's low-code platform utilized by over one million users enhances market reach.
  • Expected synergies in manufacturing and financial services sectors.
  • Integration with existing tools broadens service offerings.
Negative
  • None.

Key technology extends reach and scale of data analytics suite

TROY, Mich., Sept. 13, 2022 /PRNewswire/ -- Altair (Nasdaq: ALTR), a global leader in computational science and artificial intelligence (AI), signed a definitive agreement to acquire RapidMiner, a leader in advanced data analytics and machine learning (ML) software.

RapidMiner's low-code platform is used by more than one million people of all skill levels to develop production-scale data pipelines and ML models, putting advanced data analytics into the hands of those who know the domain problems best. It provides hundreds of powerful, drag-and-drop building blocks to transform and augment data – greatly 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.

"This acquisition significantly strengthens Altair's end-to-end data analytics (DA) portfolio, which already offers customers the power to understand, transform, act on, and automate their data," said James R. Scapa, founder and chief executive officer, Altair. "Machine learning is becoming an essential part of business, but often the barriers to building ML models are too high to get started. Too much data, not enough data science expertise, and insecure or unscalable production environments can all keep a business from executing on their data analytics vision. That's where RapidMiner can be transformative."

RapidMiner's cloud platform takes the best of RapidMiner desktop and adds the strength of the cloud, bringing additional scale and governance to the low-code platform. This multi-tenant, SaaS-ready version enables organizations to ramp up their data science workloads easily and safely.

RapidMiner resonates with users in the data analytics community due to its talented, hands-on technical team with decades of experience, led by founder and chief technology officer Dr. Ingo Mierswa, who will join Altair. Under Mierswa's leadership, RapidMiner pioneered the entire concept of visual, explainable data science, and was the first platform to introduce automatic data science, text analytics, automated feature engineering, deep learning, and more.

"Altair and RapidMiner share the same vision to make data analytics simple enough for all users, but scalable, governed, and safe enough for all enterprises," said Mierswa. "We see this as an incredibly exciting opportunity to watch our solutions grow across the globe and expand into a larger, more powerful ecosystem."

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. Sitting next to dozens of existing Altair products already in these verticals, RapidMiner presents an exciting new offering for new and existing customers who will be able to access existing Altair and RapidMiner products easily through Altair's unique units licensing model.

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.

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



Evelyn Gebhardt



+49 7031 6208 0



emea-newsroom@altair.com



 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/altair-to-acquire-rapidminer-continuing-expansion-of-broad-data-analytics-portfolio-301623649.html

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 capabilities in machine learning.

When was the acquisition of RapidMiner announced by Altair?

The acquisition was announced on September 13, 2022.

What are the expected benefits of the RapidMiner acquisition for Altair?

The acquisition is expected to improve market reach, offer powerful analytics solutions, and facilitate machine learning accessibility for businesses.

How will RapidMiner's platform benefit Altair's customers?

RapidMiner provides a low-code platform enabling users to build data pipelines and machine learning models easily, thereby enhancing user experience.

What is the stock symbol for Altair?

Altair is listed on Nasdaq with the stock symbol ALTR.

Altair Engineering Inc.

NASDAQ:ALTR

ALTR Rankings

ALTR Latest News

ALTR Stock Data

9.29B
58.39M
2.27%
109.77%
3.7%
Software - Infrastructure
Services-prepackaged Software
Link
United States of America
TROY