Acquisition of technology and retention of key Engineering Talent to Provide Enhanced AI-Powered Offerings
Boston, MA, July 13, 2020 – Syniti, a global data solution provider, today announced the acquisition of Virtyx Technologies, Inc., an innovative start-up that provides end-to-end AI-powered automatic monitoring and analytics for data transformation. The asset purchase, which encompasses the acquisition of Virtyx technology and the retention of the key Virtyx Engineering talent, will integrate Virtyx’s industry-leading cloud-native and AI technology with Syniti’s Knowledge Platform — creating a knowledge-driven software suite and enhancing Syniti's development and Engineering team.
The new cloud-native and AI technology will help advance the real-time movement, management and workflow of data and metadata, as well as provide AI-driven predictive guidance, by analyzing historical data incidents via unmatchable dashboards and detailed graphs of over 1000 metrics. The acquisition provides a fast path to leverage Virtyx software, expertise, and application designed for initiatives, like data quality, data governance, and data migration, which are Syniti’s specialized areas of operation.
“In a world where data drives decision-making across every domain, having insight, reporting, and predictive capabilities is imperative to prevent data from being mismanaged or, at the very least, undermanaged.” said Syniti CEO, Kevin Campbell. “With the cloud-based Syniti Knowledge Platform, infused with Virtyx technology, customers can gain greater visibility into metrics and solve critical transformation issues with the guidance, capture, and reuse of critical knowledge often locked within data.”
Kevin Reid, Syniti Board Member, co-founder, former CEO and CTO of cloud service provider VirtuStream, co-founder and partner of Blue Lagoon Capital, said, “Virtyx has built highly scalable technologies that can open up new value and growth opportunities for global enterprises. This asset acquisition provides Syniti incremental cloud-native technology and enhanced visibility to address its customers’ data journey and continual focus to move to the cloud.”
“As we kick off a new decade, we are happy to further our commitment and long-term roadmap of providing cloud-first, knowledge-driven technologies to our customers and to helping them modernize their data management systems and processes,” said Syniti Chief Strategy and Technical Officer, Rex Ahlstrom. “This will ultimately, help drive the improvement of business’ performance and functionality.”
Jim Maniscalco, Founder of Virtyx and now Syniti VP of Engineering said, “
I am excited to join Syniti in offering a single cloud platform solution that merges real time stream processing of data and AI with the data insights and analytics of the Syniti Knowledge Platform. Coupling these technologies will help drive a new level of excellence within Enterprise Data Management.”
Syniti will incorporate new Virtyx technologies in all current and future Syniti Knowledge Platform customer solutions. With the acquisition of Virtyx, in addition to Virtyx’s team of experts in cloud-native development, Syniti has also welcomed Virtyx Founder Jim Maniscalco, who joined Syniti as VP of Engineering.