Quick Take
Aspen Technology (AZPN) announced it has acquired Mnubo for approximately $78 million in cash.
Mnobu operates as a provider of artificial intelligence and analytical infrastructure solutions for Internet of Things [IoT] applications.
With the acquisition, AZPN is adding significant analytics capabilities as it targets the traditional industrial customer with new cost-saving technologies.
Target Company
Montreal, Canada-based Mnubo was founded in 2012 and enables organizations to deploy enterprise-scale AI-driven IoT applications.
Management is headed by Co-Founder and CEO Frédéric Bastien, who is also a Co-President at Technopolys.
Below is an overview