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 prescribe actions consistent with business objectives.
“Altair’s vision is for digital twin simulation and predictive/prescriptive analytics solutions to run in the cloud or on edge gateway computers to optimize performance of both industrial equipment and consumer devices,” said James Scapa, Founder, Chairman, and CEO at Altair. “We believe this acquisition is important to help our customers’ digital transformation and enable their products to thrive in today’s rapidly emerging connected ecosystems of smart devices.”