US Software Testing Giant Buys AI Firm
Software testing and quality assurance company Qualitest has announced the acquisition of an Israeli firm specializing in the creation of automated machine learning tools.
AlgoTrace, which is based in Tel Aviv, uses artificial intelligence (AI) and machine learning (ML) to assist companies to improve their predictive analytic capabilities. The company was founded in 2016 and is best known for its tool AlgotraceML.
While news of the acquisition was shared yesterday, the financial details of the transaction remain under wraps.
Ron Ritter, CEO at AlgoTrace, said: “We are thrilled to be joining with Qualitest. Following successful implementations with the company in the past, we have complete faith that we will help Qualitest change the testing paradigm forever – enhancing their quality engineering with machine learning. While there is a lot of hype surrounding AI, we’re deploying real, hard-nosed and practical tools that significantly change the rules.”
Qualitest and the team at AlgoTrace have been working together for over a year on multiple projects which have turned out to be successful. The software testing giant has been using AlgoTrace’s AI platform to power Qualitest’s market-leading test predictor tool, which applies pioneering autonomous AI capabilities and predictive modeling to unstructured data without the need for code or complex interfaces.
Norm Merritt, CEO of Qualitest, said: “Applying AI to quality engineering is a perfect fit. Just as software becomes increasingly complex, the companies producing it are under competitive pressure to increase the speed and frequency of their rollouts.
"AI is the only way companies can scale software testing and quality engineering and the AlgoTrace team have shown that they understand this. In our view, companies that do not use AI to improve quality will be at a significant disadvantage.”
Qualitest's newest purchase marks the first step of a comprehensive growth strategy made possible by an investment from Bridgepoint earlier in the year.
Through the acquisition, Qualitest hopes to expand the number of AI-powered testing solutions available to clients, as well as develop its capabilities in assisting companies test and launch new AI-powered solutions with greater confidence and speed.
Source: Information Security Magazine