MOUNTAIN VIEW, USA: Algorithms.io is now a LumenData companyLumenData, 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 percent annually. The opportunities to use the data generated by these devices is estimated to reach $14.5 trillion dollars in the coming years.