Microsoft, the technology juggernaut, has just acquired Minit, a company specializing in process mining. On 31 March 2022, the story broke when both companies announced the major news. However, neither disclosed the amount Microsoft had paid for the acquisition.
What’s known, though, is that Minit is a leader in process mining technology. This technology is typically used by companies looking to find ways to improve their processes and operational efficiency, often by identifying inefficiencies. All of this is done by analyzing and leveraging data.
Gartner’s 2020 Market Guide for Process Mining had already noted the importance of this technology by stating that automation trends and understanding of underlying processes are crucial for digital transformation.
Minit established itself as a software solution that lets businesses better understand how their processes run, find the biggest causes of operational issues, and mitigate them. All of that is achieved in near real-time.
Minit started its journey in 2014 in Bratislava, Slovakia, and currently numbers around 20 employees.
Four years after being established, Minit managed to raise €3.3 million from two investors, while it raised a further €7 million in a Series A round barely a year later, in October 2019.
The founder and current CSO of Minit, Rasto Hlavac, stated that his company would be able to continue offering the same market-leading process mining solution but on a much larger scale, all thanks to them uniting with Microsoft.
On the other hand, Microsoft is looking to expand its process mining offering as it already provides the service through the Power Automate solution.
With the help of Minit, Microsoft will strengthen its process mining capabilities, which should enable it to further help its customers transform digitally and achieve operational excellence.
The massive Fortune 500 corporation wants to help its customers better understand process data in their businesses, find how their operations actually look in real-time, and allow them to push process standardization throughout their organizations.
With this acquisition, Microsoft becomes a direct competitor to Celonis, one of the leaders in process mining, a corporation that has recently acquired the German PAF.
