IBM has struck a deal to acquire process mining software vendor myInvenio, in a move aimed at providing its customers with data-driven software to help them identify the best business processes to automate using artificial intelligence (AI) technology.
Based in Italy and founded in 2013, myInvenio describes itself as a “disruptive solution of process mining and digital twin of an organisation to automatically analyse business processes, monitor and predict the future trends of processes”.
By analysing historical process execution data and desktop behaviour, myInvenio technology is designed to help determine where to apply robotic process automation (RPA) bots, automated decisions, AI models and other automations to have the most impact on a business.
Last year, IBM selected myInvenio for a worldwide original equipment manufacturer (OEM) agreement to integrate its offering into the IBM Cloud Pak suite.
Now, IBM plans to integrate myInvenio's capabilities into its automation portfolio, including IBM Cloud Pak for Business Automation, the company’s hybrid cloud software for using AI to transform business processes and help enable people to be more productive.
Broadly, the deal is set to further advance IBM's hybrid cloud and AI strategy, furthering its efforts to provide customers with a comprehensive suite of AI-powered automation capabilities for business automation. Financial details were not disclosed.
IBM said the acquisition continued its investment in providing organisations with a “one-stop shop” of AI-powered automation capabilities for business automation, including process mining, RPA, document processing, workflow and decisions.
"Digital transformation is accelerating across industries as companies face increasing challenges with managing critical IT systems and complex business applications that span the hybrid cloud landscape," IBM Automation general manager Dinesh Nirmal said.
"With IBM's planned acquisition of myInvenio, we are continuing to invest in building the industry's most comprehensive suite of AI-powered automation capabilities for business automation so that our customers can help employees re-claim their time to focus on more strategic work,” he added.
It is thought myInvenio's capabilities could also be available to IBM business partners and IBM Global Business Services Automation practice to help customers generate insights about their business processes that could help lead to a clear data-driven roadmap for applying automation effectively.
The transaction, which is subject to customary closing conditions, is expected to close at the end of this quarter.