I am very excited to announce that Persistent has entered into a definitive agreement to acquire CAPIOT, a leader in enterprise integration with expertise in MuleSoft, Red Hat and TIBCO. We look forward to welcoming CAPIOT employees, clients, and partners to the Persistent family. You can read the full announcement here.
CAPIOT specializes in enterprise integration technology coupled with their proprietary frameworks, accelerators and common data models to fast-track implementations. Today’s announcement reinforces our commitment to our key partnerships especially with Salesforce and IBM Red Hat. CAPIOT’s focus on integration platforms like MuleSoft and Red Hat Fuse allows us to further deepen our partnerships with Salesforce and IBM respectively. Their expertise and strong pedigree in TIBCO BusinessWorks also allows us to add a new strategic partner, TIBCO, to our partner ecosystem.
Let me explain why this acquisition is important and how it benefits our joint customers. While much has been said about data being the new oil, not much is said about the applications that power the enterprise. To me, these enterprise applications are the underlying engines which run the enterprise. Just like you need well-oiled, well-integrated, and efficient engines to effectively run a piece of machinery, you also need a modern data stack with a well-integrated set of smart applications for a modern enterprise to work efficiently. The failure to merge disparate data and fragmented applications can cause significant challenges like the inability to innovate and compete in running this enterprise machinery.
But how did enterprise applications end up being the way they are in the first place? Traditionally, applications were built to suit specific business needs in the enterprise. Every business function built their own set of applications, resulting in a wide range of siloed applications. The push towards cloud, multi-cloud, hybrid cloud and SaaS further accelerated this divide making applications more siloed. These monolithic and siloed blocks of applications make it very difficult for the enterprise to transform itself into a digital enterprise.
On the other hand, today’s digital landscape is transforming rapidly, requiring enterprises to evolve at an accelerated pace to meet the evolving needs of customers. Changing business scenarios, ongoing compliance and regulation changes and the relentless drive to be more efficient and agile require these applications to change and adjust in almost real-time. COVID-19 is an excellent case in point which required enterprises to transform themselves almost overnight. Enterprises should not wait for such events to start their modernization journey, the right time is now! Enterprises already on this journey should ensure that they are developing the right accelerators and frameworks which will enable them to maintain their leadership through a changing business landscape.
The ability to manage, analyze, store, and process large and diverse sets of data from a variety of sources combined with the ability to draw insights and take actions using these insights is key for every organization to transform digitally. We at Persistent have been at the forefront of helping our customers on their data to insights journey by helping them harness the power of data.
CAPIOT extends our ability to transform enterprises in two important ways. First, enabling applications to store and analyze the data they process. This data can then be ingested and analyzed for more insights and efficiencies. Second, ensure that the actionable insights are implemented across the enterprise applications seamlessly and in real-time. Real-time response from businesses is a key necessity for digital transformation which impacts multiple functions of an enterprise including operational processes, customer experiences and business models. The addition of CAPIOT to Persistent will further enhance our ability to offer our customers a comprehensive transformational solution from ingesting and analyzing data to integrating and distributing the insights into enterprise workflows.
For any enterprise looking for a partner to help drive digital transformation, Persistent and CAPIOT offer a powerful combination of analytics and data management along with enterprise integration. We’re thrilled about the transformational possibilities that this acquisition will open up for our customers.
I welcome you to connect with us to discuss your integration journey or learn from our experiences in helping our clients in their journeys.