IBM is acquiring myInvenio, a business automation software provider that specializes in process mining as part of the hyperautomation trend. Financial terms of the deal were not disclosed.
This is technology M&A deal number 235 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here. Also, here's a list of recent IBM acquisitions.
myInvenio, founded in 2013 and based in Italy, develops software that allows partners and customers to:
- reveal inefficiencies, bottlenecks and tasks that can benefit from automation;
- determine where to apply RPA (robotic process automation) bots, automated decisions, AI models, and other automations to have the most impact on a business.
- myInvenio's capabilities could also be available to IBM business partners to "assist customers to generate insights about their business processes that could help lead to a clear data-driven roadmap for applying automation effectively," IBM says.
The acquisition aligns with IBM CEO Arvind Krishna's effort to pivot the business toward multi-cloud software that drives business automation. The efforts span process mining, RPA, document processing, workflow automation and more. Those various software components integrate with IBM Cloud Pak for Business Automation, and run atop Red Hat OpenShift. The OpenShift software allows IBM's automation packages to run on any public, private cloud or hybrid cloud.
IBM Acquires myInvenio: Executive Perspectives
In a prepared statement about the myInvenio deal, Dinesh Nirmal, general manager, IBM Automation, said:
"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. 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."
Added Massimiliano Delsante, CEO, myInvenio:
"Through IBM's planned acquisition of myInvenio, we are revolutionizing the way companies manage their process operations. myInvenio's unique capability to automatically analyze processes and create simulations -- what we call a 'Digital Twin of an Organization' -- is joining with IBM's AI-powered automation capabilities to better manage process execution. Together we will offer a comprehensive solution for digital process transformation and automation to help enterprises continuously transform insights into action."
The deal is expected to close at the end of this quarter.
IBM and myInvenio: More Potential Partner Benefits
An IBM-myInvenio partnership, announced in 2020, provides more clues about myInvenio's technology and its potential benefits to IBM partners. At the time of the partnership announcement, IBM mentioned five keep capabilities of the myInvenio platform. They included:
- Process Discovery: Uses the data you already have to discover your end-to-end process including user interaction data, giving a clear picture of how the as-is process is running
- Task Mining: Captures user interaction data to complete the process map, showing where manual activities are causing process inefficiencies like reworks and longer wait times.
- Business Rule Mining: Derive business rules according to your business data to understand not only the probability but also why the process follows a specific path.
- RPA Candidates: Uses insights obtained from Task Mining to automatically identify where automation will eliminate process bottlenecks, reduce lead time, and result in the greatest overall process improvement.
- Simulation: Lets you test out your automation initiatives to calculate the expected ROI of your To-Be process and guarantee that the changes are desired and effective.
