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, IBM asserts.
Moreover, AlchemyAPI's software platform processes billions of API calls per month across 36 countries and in eight different languages: English, French, German, Italian, Portuguese, Russian, Spanish, and Swedish, IBM said.
IBM plans to integrate AlchemyAPI’s software into the core Watson platform, augmenting Watson's ability to quickly identify hierarchies and understand relationships within large volume data sets, the company said.
IBM's revenues have been flat or declined for 11 consecutive quarters. Hoping to reverse that trend, IBM CEO Ginni Rometty in February 2015 said the company will spend about $4 billion on R&D and other moves to boost revenues from big data/analytics, mobile, cloud, security and other emerging markets. Rometty predicted the moves would deliver about $40 billion in related revenues over four years.
As part of that effort, IBM has $100 million available for Watson-focused venture investments. Financial terms of the AlchemyAPI buyout were not disclosed.
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