IBM, the computer hardware pioneer that now focuses on software and IT services, announced an acquisition recently that adds to its cloud automation. The company added Italian process mining technology provider myInvenio to bolster its hybrid cloud and AI strategy.
Process mining has become an increasingly important part of the automation strategy for companies, enabling them to identify which processes can and should be automated, reveal bottlenecks and inefficiencies in processes and reduce operating costs.
A recent study by the Everest Group found that the process mining software market more than doubled between 2018 and 2019, growing 150 percent to reach around $240 million. Despite growth in the sector, however, another research report shows companies could leverage the technology more often.
IBM, which acquired Brazilian RPA startup WDG Automation less than a year ago, said adding process mining to its arsenal will enable it to offer a more robust automation offering to its customers through its IBM Cloud Pak for Business Automation.
“Digital transformation is accelerating across industries as companies face increasing challenges with managing critical IT systems and complex business applications that span the hybrid cloud landscape,” said Dinesh Nirmal, general manager of IBM Automation. “With IBM’s planned acquisition of myInvenio, we are continuing to invest in building the industry’s most comprehensive suite of AI-powered automation capabilities for business automation so that our customers can help employees reclaim their time to focus on more strategic work.”
The companies said the deal is expected to close at the end of the current quarter, pending regulatory approvals. Financial terms were not disclosed.