PTC has acquired big data machine learning and predictive analytics ColdLight.
Jim Heppelmann, CEO at PTC said the company invested "approximately" $105 million to purchase ColdLight’s Neuron automated predictive analytics platform.
The CEO told the audience at LiveWorx 2015 in Boston, US about the acquisition which will use ColdLight as its core data analytics platform working with the manufacturing, healthcare, media and retail markets.
The company said, the Neuron solution when combined with PTC’s IoT platform, will automate the analysis of data from things to address failure patterns from data, modelling correlations, predicting failures, prescribing remedies and prioritising recommendations against cost constraints.
PTC added that the solution will use artificial intelligence and machine learning technology to automatically and continuously learn from data, discover patterns, build validated predictive models and send information to virtually any type of application or technology.
Mr Heppelmann said: "Sensor data by itself creates value, but that value is magnified dramatically when companies use predictive analytics to process that data into many forms of actionable knowledge that can transform the way they do business.
"With this acquisition, PTC will possess an innovative advanced analytics platform that will allow us to accelerate how we help our customers capitalise on the explosive growth potential of this rich new resource."
Ryan Caplan, CEO of ColdLight added: "We share PTC’s vision for the need to improve how data is captured, analysed, understood and acted upon in order to help organisations drive more impactful IoT strategy.
"We believe all industries, but especially manufacturing, can benefit from a data analytics strategy in the Internet of Things era. We are excited to pursue this broad set of opportunities with the resources and proven IoT technology portfolio that PTC provides."