March 29, 2017
Progress Acquires DataRPM, The Best-of-Breed Machine Learning Company Focused on Cognitive Predictive Maintenance DataRPMs Unique Meta Learning Technologies to Form the Foundation of Progress Cognitive-First Strategy
BEDFORD, Mass.--(BUSINESS WIRE)-- Progress (NASDAQ: PRGS), the leading provider of application development and deployment technologies, today announced it has completed the acquisition of DataRPM, a privately-held company and leader in cognitive predictive maintenance for the industrial IoT (IIoT) market. This acquisition is a key part of the Progress strategy to provide the best platform to build and deliver cognitive-first applications.
As data continues to explode, driven by machine-generated and human-generated data, and devices and digital touchpoints proliferate rapidly, organizations must leverage cognitive-first applications for business benefit to compete and win.
Progress has always provided the platform for building and deploying mission-critical business applications. The future of applications is cognitive-first, and Progress is committed to providing the best platform to build and deploy them, said Yogesh Gupta, CEO, Progress. Our customers and partners already use many of the key product capabilities from Progress necessary for this approach- front-end application development tooling, mobility, back end application services, and data connectivity. With the acquisition of DataRPM, we now have leading predictive analytics capabilities to round out our cognitive apps platform.
DataRPM offers an award-winning cognitive predictive maintenance solution for industrial IoT. The patented platform automates predictive modeling, leveraging proprietary Meta Learning capabilities to increase quality, accuracy and timeliness of equipment failure predictions, leading to hundreds of millions of dollars in savings. The technology enables customers such as Jaguar, Samsung and Mitsubishi Heavy Industries to predict and prevent asset failures, and increase yield and efficiencies to generate outcomes for industrial IoT.
Predictive analytics is very important to QADs vision of the Effective Enterprise, where we partner with our customers on a continued journey of efficiency and agility, said Tony Winter, chief technology officer, QAD. We see the acquisition of DataRPM by Progress, and its machine learning capabilities, to align well with our vision and are excited about the opportunities this could have for our customers going forward.
DataRPM technologies bring unique differentiators to the market:
DataRPM technology detects random and unknown failures using a combination of unsupervised and semi-supervised learning techniques, saving businesses hundreds of millions of dollars by preventing failures of critical assets and maximizing quality and efficiency.
DataRPM solves the huge data science talent crunch by teaching machines to automate data science using a technique called Meta Learning, that learns from experience and feedback, saving industrial companies from having to invest in large armies of data scientists.
The DataRPM platform has been proven to horizontally scale to monitor and track any number of industrial machines, addressing the needs of even the most demanding use cases.
We had anticipated that Progress would need to acquire machine learning and predictive analytics functionality to deliver its Cognitive Apps strategy, and DataRPM is a logical choice, said Matt Aslett, research director, Data Platforms and Analytics, 451 Research. The combination of application development, data connectivity, and business rules management software with machine learning and predictive analytics makes sense in terms of providing a platform that will enable ISVs and enterprises to develop operational applications that take advantage of the intelligence being generated by big data and IoT projects.
With the acquisition of DataRPM, Progress enables customers to harness previously untapped volumes of data to build cognitive apps quickly and easily - democratizing machine learning and making it accessible to any organization. DataRPM will continue to offer its leading solution for cognitive predictive maintenance for IIoT under the Progress umbrella, supported by an increase in investment and resources. Integration of DataRPM technologies and Progress products is already underway and the updated offerings are expected to be available to early-adopter partners and customers later this year.
Progress strategy around cognitive applications is in perfect alignment with our vision, which is why the acquisition was the right move for us, said Sundeep Sanghavi, co-founder and CEO, DataRPM. It will enable us to increase investment in our current cognitive predictive maintenance offering while also becoming an essential part of a ground-breaking platform for building cognitive applications across multiple markets.
Progress CEO Yogesh Gupta will host the companys quarterly earnings call at 5:00pm ET Wednesday, March 29, during which additional details of the acquisition will be disclosed. Access to the call will be available on the investor relations section of the companys website at www.progress.com. Additionally, attendees can listen in via telephone by dialing 877-857-6173, passcode 9231513. The conference call will include brief comments followed by questions and answers. An archived version of the conference call and supporting materials will be available Progress investor relations page, after the call.
Progress acquired DataRPM for a purchase price of $30 million, with $28.3 million paid in cash, and $1.7 million payable to DataRPMs founders in the form of restricted Progress stock.
Additional Resources
Follow Progress on Twitter, Facebook, LinkedIn and Google+
Read the Progress blog
Follow DataRPM on Twitter, Facebook and LinkedIn
Read
Most recent headlines
04/09/2025
Monumental Sports & Entertainment (MSE), in collaboration with Dalet, has been a...
09/05/2025
Wooden Camera, a leading innovator in camera accessories, is proud to announce the launch of a new line of products for the Blackmagic URSA Cine Cameras. These ...
09/05/2025
LYNX Technik, provider of modular signal processing solutions is expanding its popular Series 5000 platform with three new 12G-SDI cards. The new cards provide ...
09/05/2025
Pebble, the leading automation, content management and integrated channel specialist, has completed a project to migrate ON TV, the major independent broadcaste...
09/05/2025
NUGEN Audio launches its new speech intelligibility plug-in, DialogCheck. A mono, stereo and multichannel dialog clarity meter, the software provides an objecti...
09/05/2025
Disguise the technology platform and solutions provider that powered MDL Beast Soundstorm 2024, Dubai Expo's Al Wasl Dome and visual displays at the Burj ...
09/05/2025
CVP has announced it will demonstrate its cutting-edge broadcast, live production and studio solutions at MPTS 2025. Taking place at Olympia London from 14th - ...
09/05/2025
Mediagenix, a global leader in smart content solutions to profitably connect the right content to the right audience, and White Peaks Solutions, the prominent e...
09/05/2025
SportsEngine Play, the first-of-its-kind streaming service for youth sports, has agreed to a multi-year extension with AI-automated sports content leader, Pixel...
09/05/2025
Friend MTS, a leading global provider of content protection services, today announced that TOD, the premier sports and entertainment OTT subscription service fo...
09/05/2025
ZEISS announces that it is in development on a new virtual lens technology that will allow visual effects and compositing artists to apply an authentic lens loo...
09/05/2025
At the 2025 Media Production & Technology Show (MPTS), Cerberus Tech will showcase the latest major enhancement to its Livelink IP video delivery platform the...
09/05/2025
Capitol Broadcasting Company welcomed Warren Thomas as the new Vice President an...
09/05/2025
CAMBRIDGE, Mass. Studio Technologies said the Harvard University athletics department has integrated Dante-enabled equipment from the vendor into its broadcast ...
09/05/2025
NEW YORK ITN, a provider of a local linear supply side platform, and Magnite, a independent sell-side advertising company, have announced that they working toge...
09/05/2025
LEEDS, U.K. Nugen Audio has launched a new speech intelligibility plug-in, DialogCheck and offered up quotes from technologists working at places like Netflix p...
09/05/2025
AJA I/O Gear: The Heart of Broadcast Solutions' VEGO Mobile Editing Solution
Brie Clayton May 8, 2025
0 Comments
When working remotely on broadcas...
09/05/2025
What do they teach in an Advanced Adobe After Effects Course?
Roland Kahlenberg May 8, 2025
0 Comments
There aren't many advanced After Effects co...
09/05/2025
Larry Jordan Sits with Trevor Morgan of OpenDrives at NAB 2025
Brie Clayton May 8, 2025
0 Comments
Trevor Morgan, COO of OpenDrives, shares how the co...
09/05/2025
Berklee Popular Music Institute Announces UK Festival Debut and Tour Dates For the first time, BPMI will bring Berklee-affiliated artists and students to the ...
09/05/2025
Here is your host, Patrick Kielty!
In the season finale of The Late Late Show, ...
09/05/2025
My Eurovision Party 2025 - join in on the fun with RT Kids!
Eurovision launche...
08/05/2025
A sinister fairy infiltrates a desperate family in Kenneth Dagatan's In My Mother's Skin, which premiered at the 2023 Sundance Film Festival. Photo co...
08/05/2025
As expected, continued weak demand from key sales markets and declining economic...
08/05/2025
A new three-part series is coming to BBC iPlayer and BBC One
(Image: The Christie Archive Trust)
The BBC has announced Agatha Christie's Endless Night, a...
08/05/2025
For skyward-bound operators, training focuses on the unique aspects of flying ISR missions, including the management of onboard surveillance equipment and the e...
08/05/2025
The cable industry has told the Federal Communications Commission it supports the National Association of Broadcasters' proposal to allow broadcasters to us...
08/05/2025
WASHINGTON The Consumer Technology Association has continued its opposition to mandates requiring that NextGen TV/ATSC 3.0 tuners be included in new TV sets, sa...
08/05/2025
TAG Video Systems, the leader in software-based IP end-to-end workflow monitoring, deep probing, and real time visualization, has named Paul Maroni as Vice Pres...
08/05/2025
This year's UK Pavilion in hall 5, once again managed by Tradefair, will provide visitors with the unique opportunity to discuss and be involved in cutting ...
08/05/2025
Rohde & Schwarz will showcase its latest energy-efficient transmitters and 5G Broadcast technologies, designed to support network operators and content provider...
08/05/2025
IRVING, Texas Nexstar Media Group has tapped Bill Nardi as vice president of station operations, responsible for overseeing the day-to-day broadcast operations ...
08/05/2025
SEATTLE LumaTouch is partnering with CNN Academy to improve mobile storytelling techniques and support training across all of CNN Academy's training simulat...
08/05/2025
WASHINGTON The Society of Broadcast Engineers has filed comments with the Federal Communications Commission that support a proposal by the National Association ...
08/05/2025
Senior adviser to the United States Agency for Global Media Kari Lake has announced that One America News Network (OAN) will provide newsfeed services for fre...
08/05/2025
EdMon Expands as AI-Driven Post Production Workflows Gains Traction in Sweden an...
08/05/2025
Using Luma Mattes in Adobe Premiere Pro
Graham Quince May 7, 2025
0 Comments
This very quick tutorial shows you how to take an RGB clip and apply its ...
08/05/2025
OpenDrives Unveils Free Your Data' Initiative with New Astraeus Cloud-Nativ...
08/05/2025
Student Spotlight: Grigori Balasanyan The Armenian composer, who was named Boston Conservatory at Berklees 2025 student commencement speaker, talks about his ...
08/05/2025
08 May 2025
VEON Shareholders Re-elect Board at 2025 AGM, Founder Augie Fabela ...
08/05/2025
Comedy and entertainment channel U&Dave bring back their #1 ranked programme of ...
08/05/2025
May 8th, 2025 Press Materials Available Here
Tribeca Festival 2025 Unveils New Premieres Spanning Film and Music
Slick Rick's Victory with Idris Elba a...
08/05/2025
May 8th, 2025 Press Materials Available Here
Tribeca Festival 2025 Announces Lineup for Inaugural Storytelling Summit
11-Day Industry Event Launches with Tal...
08/05/2025
SVG Sit-Down: Vizrt's Nicholas Jameson on AI in Workflows, Pushing Boundarie...
08/05/2025
Creating Alternative Brand Experiences: Live Sports in the Age of Fortnite, Meta...
08/05/2025
PGA TOUR's David Piccolo: Advanced Graphics and Virtual Production Tools are...
08/05/2025
Tech Focus: Advancing Immersion in Sports Broadcasting with AR and Virtual Produ...
08/05/2025
Expect even more chaos this July with Harriet Webb leading the returning cast, p...
08/05/2025
Back to All News
Now in Production: Comedy Action Film Husbands in Action'...
March 29, 2017
