United Technologies (NYSE:UTX) has bought analytics firm Predikto and named the start-up's chief to lead data and analytics, The Wall Street Journal reports. Predikto's software platform automates much of the work involved in predicting failures of industrial equipment. Mario Montag will join United as chief of data and analytics, replacing Steve Abrams, who left earlier. The tools will be integrated for use by UTC's business units, including Pratt & Whitney, elevator maker Otis and air conditioning/heater maker Carrier. UTC began working with Predikto at the beginning of the year on a predictive maintenance project with Pratt & Whitney, which showed downtime indicators United hadn't spotted before.

Source: Wall Street Journal August 20, 2018 21:56 UTC