Aspen Tech acquires Camo Analytics for … analytics
It’s been a bit quiet on the acquisition front lately but Aspen Technology (AspenTech) just announced that it has acquired Camo Analytics AS, a provider of industrial analytics solutions.
Camo Analytics makes something called the Camo Analytics Unscrambler suite (awesome, awesome product name, marketing people) which mines production data to discover how a process manufacturer can increase consistency and quality in production, and improve efficiency. Camo says Unscrambler is used by 25,000 scientists, researchers, and engineers worldwide,
AspenTech CEO Antonio Pietri said, “Camo Analytics is a great addition to our portfolio and supports the expansion of our capabilities to the pharmaceuticals industry and several other industries. We were impressed by the depth of knowledge and drive for innovation from the Camo Analytics team and look forward to continuing investment in the solutions and bringing them to new customers and markets.” The company plans to add Camo’s capabilities to its Process Analytical Technology (PAT) and Overall Equipment Effectiveness (OEE) solutions.
Terms of the deal were not disclosed. From the financial statements on Camo’s website, it looks as though the company had revenue of 31.7 million Norwegian Krone, about US$3.5 million, in 2019, up 13% from 2018. Before you get all multilple-y, Camo reported a hefty net loss for both 2018 and 2019. It appears as though Camo had planned to issue stocks or bonds this Fall to raise more cash, a plan that was perhaps short-circuited by AspenTech’s acquisition.