InRule Technology, which is backed by OpenGate Capital, has acquired Chicago-based simMachines, a provider of an AI/machine learning software platform. No financial terms were disclosed.
LOS ANGELES–(BUSINESS WIRE)–InRule Technology, Inc. (“InRule”), a market-leading digital decisioning software platform, and portfolio company of OpenGate Capital, announced today that it has acquired simMachines, a leader in explainable AI and ML technology. Financial terms of the transaction were not disclosed.
Founded in 2013, with headquarters in Chicago, simMachines offers a comprehensive explainable AI/machine learning software platform that enables data scientists, marketers, analysts, and business leaders to gain efficiency, performance, and innovation while providing actionable insights delivered with transparency and trust behind every prediction.
The add-on acquisition of simMachines brings an immediate expansion to InRule’s strategic and technology capabilities. Combined, the businesses will provide enterprises with human-driven and machine-driven AI within a single platform. InRule’s co-founder and CEO, Mr. Rik Chomko will lead the integration of simMachines, which will continue to operate under the same name.
“We are thrilled to augment our decision platform with simMachines’ technology to create the most comprehensive AI solution in the market, while advancing our mission of making automation accessible across the enterprise. Together, InRule and simMachines will provide extraordinary decision automation capabilities to data scientists, developers, and citizen developers alike, while delivering actionable insights that foster transparency and trust,” said Chomko.
About InRule Technology, Inc.
InRule Technology enables enterprises to understand and automate decisions with unparalleled speed, agility, accuracy, and transparency. IT and business personnel rely on InRule’s Decision Platform to increase productivity, grow revenue, and enhance customer service. With its ‘author first’ approach, InRule empowers both technical and business rule authors to write and manage rules. From on-premises to the cloud and via mobile, InRule allows organizations to run rules anywhere for extreme flexibility and scalability. More than 400 InRule User Community members across 40 countries depend on InRule to reduce development and change cycles by 90 percent for their mission-critical systems and customer-facing applications. InRule has been delivering measurable business, and IT results in high-performance environments since 2002. For more information, visit http://www.inrule.com/.
About OpenGate Capital
Founded in 2005, OpenGate Capital is a global private equity firm that strives to acquire and optimize lower middle market businesses throughout North America and Europe with a strategic focus on operational improvement, innovation and growth. OpenGate is headquartered in Los Angeles and Paris and has a seasoned in-house team of professionals overseeing the entire lifecycle of each investment. To learn more about OpenGate, please visit www.opengatecapital.com.