AlchemyAPI acquired by IBM Watson Group

By: InnovatioNews Thursday March 5, 2015 0 comments Tags: AlchemyAPI, Denver, Elliot Turner, IBM, Mike Rhodin

 

DENVER - Denver-based AlchemyAPI, a leading provider of scalable cognitive computing application program interface (API) services and deep learning technology, has been acquired by IBM (NYSE: IBM).

IBM said the acquisition will accelerate its development of next-generation cognitive computing applications.

Financial details of the acquisition were not disclosed.

IBM said the acquisition of AlchemyAPI also significantly expands the Watson ecosystem, welcoming 40,000 developers who have innovated on the AlchemyAPI platform to the IBM Watson developer community.

IBM said it will integrate AlchemyAPI's deep learning technology into the core Watson platform, augmenting the supercomputer's ability to quickly identify hierarchies and understand relationships within large volume data sets.

Founded in 2005, AlchemyAPI's deep learning platform enables clients, partners, developers and other third-parties to build cognitive-infused applications with advanced data analysis capabilities such as taxonomy categorization, entity and keyword extraction, sentiment analysis and Web page cleaning. The company's software platform processes billions of API calls each month across 36 countries and in eight languages.

"IBM continues to invest in Watson's core technology and cloud development platform, amplifying a robust Watson ecosystem where third-party organizations are creating new businesses and solutions powered by Watson," said Mike Rhodin, IBM Watson senior VP.

"Our ability to draw upon both internal and external sources of innovation, from IBM Research to acquisitions like AlchemyAPI, remain central to our strategy of bringing Watson to new markets, industries and regions."

"Today is the start of a new journey for AlchemyAPI, our customers and our user community as we join IBM, the leader in cognitive computing," said Elliot Turner, AlchemyAPI founder and CEO.

"We founded AlchemyAPI with the mission of democratizing deep learning artificial intelligence for real-time analysis of unstructured data and giving the world's developers access to these capabilities to innovate. As part of IBM's Watson unit, we have an infinite opportunity to further that goal."