July 12, 2019 - Aspen Technology - a specialist in asset optimization software, has signed an agreement to acquire Mnubo Inc ., a Montreal-based provider of purpose-built artificial intelligence (AI) and analytics infrastructure for the internet of things (IoT). Mnubo enables industrial companies to assemble and deploy AI-driven IoT applications quickly, at enterprise scale. The Mnubo technology is intended to accelerate the realization of AspenTech’s vision for the next generation of asset optimization solutions that combine deep process expertise with AI and machine learning. The acquisition is expected to close within the next five business days.
In addition to deploying AI-powered applications, the ability to visualize vast quantities of information and analyzed data is critical to the evolution of the smart enterprise. To further enhance these capabilities AspenTech has acquired Sabisu Ltd ., a UK-based company that provides a flexible enterprise visualization and workflow solution to deliver real-time decision support. AspenTech acquired Sabisu in June 2019.
These acquisitions are intended to enable AspenTech to accelerate the distribution of embedded AI in both its existing and future solutions. By combining first principle engineering models and deep process expertise with AI capabilities, these solutions will enable the automation of knowledge and data-driven decision-making for continuous improvement across the design, operation and maintenance lifecycle of industrial assets.
The purchase price of the Mnubo transaction is agreed at CAD102 million. Financial details for the Sabisu acquisition, which includes Argent & Waugh Ltd., are not disclosed.