Acquisition expands Altair's data analytics and AI
offerings
TROY, Mich.,
April 18,
2024 /PRNewswire/ -- Altair (Nasdaq: ALTR) a global
leader in computational intelligence, acquired Cambridge Semantics,
a modern data fabric provider and creator of one of the industry's
leading analytical graph databases. Cambridge Semantics'
graph-powered data fabric technology accelerates the creation of
comprehensive enterprise knowledge graphs, integrating the complex
web of structured and unstructured enterprise data together into a
single, simplified view.
Bringing together Cambridge Semantics' transformational
knowledge graph technology with Altair's leading tools for data analytics and
data science offers organizations a solid foundation for building
advanced analytics ecosystems that inject artificial intelligence
(AI) into day-to-day business operations.
"Knowledge graphs are key pieces of data fabrics. They put the
right data in the right hands at the right time. We believe
Cambridge Semantics brings the fastest and most scalable knowledge
graphs to organizations who have significant data volumes and deep
questions," said James R. Scapa,
founder and chief executive officer, Altair. "Additionally, knowledge graphs are
critical for successful generative AI applications as they provide
the business context necessary to ground generative AI models,
eliminate hallucinations, and dramatically improve response
quality."
Cambridge Semantics' technologies will be integrated into the
Altair® RapidMiner® platform, adding knowledge graph, data
governance, data virtualization, and data discovery technology to
the platform's existing data preparation, ETL, data science,
business intelligence, MLOps, workload management, and
orchestration tools.
"Joining Altair is a natural transition for Cambridge Semantics
as we seek to accelerate the pace of our technology adoption," said
Charles Pieper, chairman and chief
executive officer, Cambridge Semantics. "Cambridge
Semantics has historically been successful with Fortune 500
government, defense, life science and manufacturing
organizations. Bringing Cambridge Semantics to
Altair's broad customer base
through the Altair Units business model – and integrating it into
Altair RapidMiner – is an exciting prospect for us and for our
customers."
Cambridge Semantics was founded in 2007 by an innovation and
engineering team from IBM's Advanced Technology Group with a shared
belief that semantic graph data models were a transformational
technology destined to help organizations exploit their data in
unprecedented ways: fueling analytics, revealing new insights, and
enabling strategically important, competitive differentiation. Its
technical team was fundamental to the development of data
warehouses IBM Netezza and Amazon Redshift and represents one
of the largest single collections of knowledge graph experts in the
world.
"This acquisition adds deep data warehousing expertise to our
already strong analytics and data science team, creating an
enhanced core group of engineers that understand the entire data
lifecycle – from data creation to real impact," said Srikanth Mahalingam, chief technology officer,
Altair. "We are all excited about
where this combined team and technology will take us."
For more information about Altair RapidMiner, visit
https://altair.com/altair-rapidminer.
About Altair
Altair is a global leader in computational
intelligence that provides software and cloud solutions in
simulation, high-performance computing (HPC), data analytics, and
AI. Altair enables organizations
across all industries to compete more effectively and drive smarter
decisions in an increasingly connected world – all while creating a
greener, more sustainable future. To learn more, please visit
www.altair.com.
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SOURCE Altair