Aspen Technology has acquired Mnubo, a Montreal provider of purpose-built artificial intelligence (AI) and analytics infrastructure for the Internet of Things (IoT).
The acquisition is part of AspenTech’s plan to expand the next generation of asset optimisation solutions, combining deep process expertise with AI and machine learning.
Mnubo will assist Aspen Tech in assembling and deploying AI-driven IoT applications swiftly at an enterprise scale.
Aspen Tech has also ramped up its ability to visualise vast quantities of information and analysed data through its acquisition of UK-based Sabisu in June this year.
The combination of acquisitions allows Aspen Tech to accelerate the distribution of embedded AI in both existing and future solutions.
Through this, the solutions will enable the automation of knowledge and data-driven decision making, designed to instigate continuous improvement across the design, operation and maintenance lifecycle of industrial assets.
“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,” Aspen Tech president Antonio Pietri said.
“By bringing the deep domain expertise of AspenTech 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.”
Mnubo chief executive officer Frédéric Bastien said the company was excited to develop innovative AI solutions that target IoT at enterprise scale, under the Aspen Tech umbrella.
“The global adoption of AI and IoT technologies is powering the next wave of industrial-digital enterprises,” he said.
“The Mnubo 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.”
Sabisu managing director Tim Sharpe welcomed the acquisition, highlighting the contribution the company can bring to Aspen Tech.
“Sabisu can aggregate performance data from multiple sources, from historians to spreadsheets, from across the plant, country or world,” he said.
“When made available to engineering, operations, planning and maintenance teams, the comprehensive analysis can be used to significantly enhance uptime and efficiency.”
The purchase price of the Mnubo transaction is agreed at $C102 million ($112.2 million) with financial details for the Sabisu acquisition yet to be disclosed.