MOUNTAIN VIEW, Calif., Dec. 11, 2013 /PRNewswire-iReach/ -- LumenData, a leading provider of Enterprise Information Management (EIM) solutions, has acquired Algorithms.io, Inc., an innovative provider of predictive analytics for machine-generated streaming data. Algorithms.io provides a cloud platform to easily collect, store, classify and analyze streaming data from applications, devices and sensors. It provides machine-learning algorithms for classifying streaming data and an analytics platform for providing valuable business insights. This transaction will extend LumenData's capabilities as a provider of predictive analytics software and services for big data.
"Algorithms.io's platform will complement and expand LumenData's current EIM offerings and allow us to offer more comprehensive solutions that leverage next generation machine learning technology, " said Nimish Mehta, CEO of LumenData. "We are proud to have Algorithms.io join our team."
The opportunity to use streaming device data to drive new business decisions has been well-documented by Cisco's coverage of the Internet of Things space. Cisco estimates that today there are about 8.7 billion connected devices and that number is growing around 25% annually. The opportunities to use the data generated by these devices is estimated to reach $14.5 trillion dollars in the coming years.
"The effective use of streaming data is at the bleeding edge of the Big Data revolutions. Most companies that are exploring ways to use streaming data require a high-level of consultation on data strategy before analytics can be deployed in a meaningful way," said Andy Bartley, CEO of Algorithms.io. "LumenData's expertise in data management is a perfect complement to Algorithms.io's analytics capabilities. Together we'll be able to help customers implement a comprehensive data strategy and apply the analytics needed to solve their critical business issues."
The transaction closed on December 4, 2013. Effective immediately, Algorithms.io will become a LumenData company.
For more information or a demo on how predictive analytics can help your company, please contact us.
Headquartered in Mountain View, California, and founded in early 2012, Algorithms.io is a leading provider in predictive analytics for streaming machine-generated data. The Algorithms.io cloud platform is used in a variety of industries to extract actionable insights from streaming data generated by devices and sensors. The company is privately owned and has not raised outside capital. For more information about Algorithms.io, visit www.algorithms.io.
LumenData is a leading provider of Enterprise Information Management solutions with deep expertise in Master Data Management, Data Strategy, Data Quality, Data Governance and Big Data. Through a combination of highly trained consultants, strong partnerships, relentless focus on quality and executive oversight, LumenData has successfully delivered planning, implementation, integration, maintenance and training services to over 50 blue chip clients. For more information about LumenData, visit www.lumendata.com or email firstname.lastname@example.org.
Media Contact: Andy Bartley, Algorithms.io, 6502246023, email@example.com
News distributed by PR Newswire iReach: https://ireach.prnewswire.com