Acquisition of CANDI Controls Assets adds Edge Gateway Technology to Altair’s IoT Platform
Altair Engineering Inc. - Class A (ALTR)
Last altair engineering inc. - class a earnings: 2/27 04:05 pm
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Source: GlobeNewswire
TROY, Mich., May 03, 2018 (GLOBE NEWSWIRE) -- Altair (Nasdaq:ALTR) has acquired all of the intellectual property assets of California-based CANDI Controls, Inc. and hired CANDI’s experienced software and technology team into Altair’s IoT organization to strengthen and expand the scope of its Carriots™ solution offering. Founded in 2009 with significant start-up capital, CANDI developed a modern platform which supports multiple data protocols for edge gateway computers to communicate with a constellation of IoT devices. CANDI also developed several relationships with important players in the IoT market including Google, Microsoft, and Intel. CANDI’s software is designed to easily connect systems and equipment with cloud-based monitoring and control services to help organizations improve performance, conserve resources, and cut operational costs. Sensor data can be analyzed, visualized, and processed with machine learning and predictive analytics tools to forecast performance and
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