What is pega tool software#
The Times of India reported that Pegasystems would integrate MeshLabs's text analytics software to "gather unstructured social media data and decode it into actionable business insights for its clients." The financial details of the transaction were not disclosed. In May 2014, Pegasystems acquired the Bangalore-based MeshLabs, a text mining and analytics software startup. Over the following year, Pegasystems invested in network operations in North America and India to support its cloud services. Pegasystems hired a cloud technology proponent to develop its cloud technology strategy in 2014. Located in New Jersey, Antenna also had bases in Kraków and Bangalore. Pega Cloud was introduced using Amazon Web Services in 2012, and in October 2013, Pegasystems acquired the mobile application developer Antenna Software for $27.7 million. The acquisition gave Pegasystems access to new markets such as online training, telecommunications and healthcare, with Pegasystems integrating Chordiant and its customer relationship management (CRM) technology into its existing operations. In March 2010, Pegasystems acquired the enterprise software company Chordiant for around $161.5 million. After restating their earnings, Pegasystems faced an investigation by the SEC, which was dropped in 2002. Pegasystems entered a period of financial trouble in the late 1990s, following a dispute with its accountants, Ernst & Young. Raising several millions in funding in the process, going public freed the company from needing to pursue venture capital investments. The company went public in 1996 with initial and secondary public offerings, and began trading on NASDAQ under the symbol PEGA. As a private company, Pegasystems was "bootstrapped" initially, but did not take on outside investors. Trefler recollects that when he started Pegasystems, he wanted to create software that eased the heavy lifting that business people deal with, as well as software that understood how business-people wanted things to work, commenting "it turns out to be a fairly hard problem to solve." An article in Computerworld traces business rules engine to the early 1990s and to products from the likes of Pegasystems, Fair Isaac Corp and ILOG. During the company's early years it focused on providing case management, namely for companies such as American Express. Prior to founding the company, in the early 1980s Trefler had developed computer systems that could play chess. Alan Trefler founded Pegasystems in 1983 at the age of 27, in Cambridge, Massachusetts.