Altair, an IT company specializing in computational science and artificial intelligence, signed a definitive agreement to acquire RapidMiner, a provider of advanced data analytics and machine learning software.
RapidMiner’s low-code platform is designed to develop production-scale data pipelines and ML models. It provides drag-and-drop building blocks to transform and augment data in an effort to accelerate work for coders and non-coders alike, and its flexible delivery models are designed to provide users and enterprises with scale.
“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 founder and chief technology officer Dr. Ingo Mierswa will join Altair. “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,” Mierswa said. “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, notably manufacturing and financial services. Sitting next to existing Altair products already in these verticals, RapidMiner presents an new offering for customers who will be able to access existing Altair and RapidMiner products through Altair’s units licensing model. RapidMiner will be integrated with existing tools, such as Altair Knowledge Studio, Altair SmartWorks and Altair SLC.