IBM buys myInvenio to enhance Hybrid Cloud and AI-powered Business Automation portfolio

In an effort to upgrade its process mining, robotic process automation (RPA), document processing, workflow, and decisions built on Red Hat OpenShift, IBM has signed a definitive deal to acquire process mining software, myInvenio. 

The financial details of the transaction were not disclosed. The acquisition is expected to close by the end of the second quarter.

myInvenio is an IT solution for process mining that facilitates the optimization of complex core of business processes.

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."

Massimiliano Delsante, CEO, myInvenio, said, "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."

IBM revealed that the acquisition of the firm will provide its clients with a data-driven platform. It will help in identifying the best practices ranging from procurement and sales to production and accounting to automate using Artificial Intelligence (AI/ML).

IBM intends to integrate myInvenio platform with its service units and automation portfolio including IBM Cloud Pak for Business Automation, notes the announcement.

MyInvenio's solution works by analyzing processes using the current and determining inefficiencies, bottlenecks, or tasks that could benefit it from automation. It runs simulations that reveal where to apply RPA bots, AI models, automated decisions, and some other automation to have the most impact on a business.

The acquisition comes as the latest effort from IBM to enhance its hybrid cloud and AI-powered automation suite for enterprise.