United Technologies Accelerates Global Digital Strategy with Acquisition of Predictive Analytics Software Company, Predikto
Dow 30 component United Technologies Corporation (UTX) creates smart, sustainable solutions that are used to provide high-technology systems and services to both the building and aerospace industries.
United Technologies Corp. recently announced its acquisition of Predikto, Inc. Predikto is a predictive analytics software company based out of Atlanta, GA. The software company is known for is a proven cloud-based predictive health maintenance solution that allows customers to predict and improve their asset reliability with stronger confidence. The acquisition emphasizes United Technologies’ global digital strategy- make strategic business investments that will better the company’s capability in delivering new forms of value to its customers, employees and shareholders.
What makes Predikto unique in its sector is its technology platform. It can take hundreds of divergent industrial asset data-sets and automate up to 80 percent of the analysis process and quickly deliver ready-to-go insights for taking pre-emptive steps in issue avoidance, which in turn increases asset uptime.
Predikto’s current CEO, Mario Montag, will take on the role of Chief Data & Analytics Officer for United Technologies. He will have a presence in both Atlanta, GA and Brooklyn, NY.
Mario Montag, CEO, Predikto stated, “Predictive analytics and data science have the power to change the way today’s businesses run, especially in complex asset-intensive industries. Predikto’s approach and technology has been demonstrated globally across the aviation, rail and shipping industries where unplanned downtime and unscheduled maintenance can be costly. There is great opportunity for additional applicability to many of United Technologies’ products and services. We are beyond excited to join the team and begin making an impact.”
The terms of the acquisition have yet to be disclosed.