IoT action!

Internet of Things wheeling and dealing as AspenTech buys MTell in $37 million deal while GE adds Bit Stew to Predix data platform.

AspenTech has acquired Mtelligence Corp. for $37 million comprising $32 million in cash plus up to $5.5 million more held as security for ‘certain Mtell obligations.’ MTell’s ‘predictive and prescriptive’ maintenance technology, Previse, is an ‘end-to-end’ machine learning based solution that monitors equipment health 24/7. Previse detects early indicators of failure, diagnoses root causes and prescribes corrective action. MTell also develops and markets ‘Reservoir,’ a high performance, scalable, big data repository for large volumes of time series, event and asset data from multiple sources.


In a separate announcement, we learn that GE Digital has acquired Bit Stew Systems, along with its MIx Core solution for complex data integration and analysis across OT and IT systems*. MIx Core automates data integration by applying machine intelligence to the process.

Mlx Core will join GE’s Predix platform, extending its capability for integrating ‘data in motion’ from the edge right into the cloud. GE is a long time backer of Bit Stew having led a series B investment round in 2015.

* operations technology, information technology.

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