IBM to acquire process mining myInvenio

IBM announced on April 15 that it has signed an agreement to acquire myInvenio, a process mining company based in Reggio Emilia, Italy. The purpose is to support further automation of business processes. The terms of the acquisition have not been disclosed. The two companies entered into a partnership in November 2020. IBM said the acquisition will enable companies to provide data-driven software that can be used to identify the most impactful business processes through artificial intelligence (AI) -powered automation. These processes cover areas such as sales, procurement, manufacturing, and accounting. IBM has expanded its automation portfolio for its hybrid cloud and AI divisions. Recently, it has acquired Brazilian software provider WDG Automation, which specializes in RPA (Robotic Process Automation). IBM says it will integrate the technology acquired through the acquisition of myInvenio into automation portfolios such as IBM Cloud Pak for Business Automation running on Red Hat OpenShift. The myInvenio platform aims to analyze processes and generate simulations based on current and historical data to identify targets that can be automated. It also provides recommendations on RPA bots, automated decision making, and where AI models apply. With this acquisition, myInvenio recommendations will be able to work with automation tools. The benefits of myInvenio will focus on reducing operational costs, strengthening customer service, and improving operational efficiency. IBM will also leverage technology within its services division. The usage fee for myInvenio is charged for each event according to the process. The product portfolio includes “Process Analyst,” “Process Insights,” “Task Mining,” and “Process Store.” The acquisition is expected to close in the second quarter.