TROY, Mich., May 03, 2018 (GLOBE NEWSWIRE) -- Altair (Nasdaq:ALTR) has acquired all of the intellectual property assets of California-based CANDI Controls, Inc. and hired CANDI’s experienced software and technology team into Altair’s IoT organization to strengthen and expand the scope of its Carriots™ solution offering.  Founded in 2009 with significant start-up capital, CANDI developed a modern platform which supports multiple data protocols for edge gateway computers to communicate with a constellation of IoT devices.   CANDI also developed several relationships with important players in the IoT market including Google, Microsoft, and Intel.

CANDI’s software is designed to easily connect systems and equipment with cloud-based monitoring and control services to help organizations improve performance, conserve resources, and cut operational costs.  Sensor data can be analyzed, visualized, and processed with machine learning and predictive analytics tools to forecast performance and prescribe actions consistent with business objectives.    

“Altair’s vision is for digital twin simulation and predictive/prescriptive analytics solutions to run in the cloud or on edge gateway computers to optimize performance of both industrial equipment and consumer devices,” said James Scapa, Founder, Chairman, and CEO at Altair.  “We believe this acquisition is important to help our customers’ digital transformation and enable their products to thrive in today’s rapidly emerging connected ecosystems of smart devices.”

About Altair Carriots™

Carriots is an open-architecture Internet of Things (IoT) platform designed for asset monitoring, predictive and prescriptive maintenance, and digital twin projects.  Designed for today’s digital transformations and tomorrow’s innovations, the Carriots platform accelerates IoT deployment and provides simple scalability as projects grow in scope.  Learn more and try for free at www.carriots.com.

About Altair (Nasdaq: ALTR)

Altair transforms design and decision making by applying simulation, machine learning and optimization throughout product lifecycles.  Our broad portfolio of simulation technology and patented units-based software licensing model enable Simulation-Driven Innovation for our customers.  With more than 2,000 employees, Altair is headquartered in Troy, Michigan, USA and operates 69 offices throughout 24 countries.  Altair serves more than 5,000 customers across broad industry segments.  To learn more, please visit www.altair.com.

Media Contacts

Altair Corporate/North America/Asia Pacific
Biba A. Bedi
+1-757-224-0548 x 406
biba@altair.com

Altair Europe/the Middle East/Africa
Evelyn Gebhardt
+49-6421-9684351
gebhardt@bluegecko-marketing.de

Source: Altair Engineering Inc.