Last week, Microsoft announced their acquisition of Minit, a business process mining technology platform that helps companies discover opportunities for improvement and increased efficiency. With this strategic acquisition, Microsoft can offer additional technology and services to help companies around the world transform digitally while optimizing their business processes. Terms of the deal were not disclosed.
“Customers will be able to better understand their process data, uncover what operations look like in reality and drive process standardization and improvement across the entire organization to ensure compliance at every step,” said Justin Graham, general manager – process insights, in a March 31, 2022 blog post for Microsoft.
Based in Amsterdam, the business process mining technology company has about 50 employees, according to GeekWire. The company has received €10.3 million, or approximately $11.3 million U.S., and they are backed by venture capital companies including Salesforce, Earlybird, Target Global and Otto. Through its case studies and examples, Minit says that its business process mining services have helped companies improve efficiencies and save time and money by analyzing, monitoring and optimizing their business proces.ses
James Dening, Minit CEO, made the announcement on Minit’s blog.
“Today, I am delighted to share that Minit has become part of Microsoft,” Dening said. “Digital transformation is fundamental for the success of every organization in the 21st century. And process mining is at the core of every digital transformation initiative. As Gartner® notes*, ‘Recent trends in automation and knowledge of the underlying processes and interactions are key to digital transformation,’” added Dening.
“We have been on a mission to help businesses uncover opportunities for continuous process improvement and better operational efficiency. And from now on, this mission will be amplified on a much larger scale,” said Dening. “This acquisition will further empower Microsoft to help customers digitally transform and drive operational excellence by creating a complete picture of their business processes, enabling every process to be easily and automatically analyzed and improved.”
Dening joined Minit as the company’s CEO in 2021.
GeekWire reports that Minit will be part of the Microsoft Process Insights team, reporting to Justin Graham. Minit employees will continue to work from their current locations. Existing customers will continue to receive the same level of support and engagement that they’ve always received. Dening said he was looking forward to being part of Microsoft and how the Minit team could leverage the new relationship to deliver value for their customers.
Other 2022 acquisitions
In January, Microsoft announced their plans to acquire Activision Blizzard for $68.7 billion in an all-cash deal, becoming the technology company’s largest acquisition to date. The deal, which is expected to close during Microsoft’s fiscal year 2023, will make Microsoft the world’s third-largest gaming company by revenue, following Tencent and Sony, and helps further the company dive further into the metaverse and cloud gaming. In March, GeekWire reported that the Federal Trade Commission has asked for additional information in its review of the acquisition.
Last month, Microsoft announced the completion of their acquisition of Nuance Communications, a leader in conversational AI and ambient intelligence across industries such as healthcare, financial services, retail and telecommunications. In the announcement, Microsoft said the companies share a vision to build outcomes-based AI.
“Completion of this significant and strategic acquisition brings together Nuance’s best-in-class conversational AI and ambient intelligence with Microsoft’s secure and trusted industry cloud offerings,” said Scott Guthrie, executive vice president, Cloud + AI Group, Microsoft. “This powerful combination will help providers offer more affordable, effective and accessible healthcare, and help organizations in every industry create more personalized and meaningful customer experiences. I couldn’t be more pleased to welcome the Nuance team to our Microsoft family.”
Through its acquisition, Microsoft is addressing multiple long-term goals, including becoming a stronger force in the gaming world and helping companies continue their digital transformation by providing them with additional tools and technologies. These strategic purchases helps Microsoft expand their assets and capabilities, allowing them to grow exponentially while retaining key talent. We are just three full months into calendar year 2022. Who will Microsoft acquire next?
*Gartner Market Guide for Process Mining, Marc Kerremans, Tushar Srivastava, Farhan Choudhary, November 2021.