MachineShop Emerges From Stealth Mode to Provide the On-Ramp for the Internet
of Services -- the Framework That Will Support Trillions of
Interactions Between Billions of Things, Systems and Data Sources
Company Announces $3 Million Equity Financing From Customers and
Partners, Including CSR, Diebold and Xchanging
BOSTON, MA -- (Marketwired) -- 03/20/14 -- MachineShop, today
announced it has emerged from stealth mode to help simplify and
standardize the way organizations, individuals, applications and
systems interact with each other in a hyper-connected world. Looking
beyond how tens of billions of devices physically connect to the
Internet, MachineShop is focused on the trillions of data
transactions and interactions that will occur through the Internet of
Services -- the domain where communication occurs through standard
Services or application program interfaces (APIs) rather than legacy
platforms, middleware or proprietary protocols. MachineShop marries
the ubiquitous adoption of APIs with the ever-growing number of
connected systems and related data sources allowing developers and
their applications to leverage standard, discrete, purpose-built
The company also announced that it raised $3 million from strategic
investors, its first outside capital. Until now the company was
funded almost entirely through revenue. The three investors are CSR,
Diebold, Incorporated and Xchanging plc, each of whom is a
MachineShop customer or partner.
According to Gartner, Internet of Things vendors will top $309
billion in direct revenue by 2020, with most of that money stemming
from services. "There are few market opportunities that can be
measured in trillions of transactions, but the Internet of Services
is one of them," said Michael Campbell, CEO, MachineShop. "Not only
is the Internet of Services bigger than the sum of all the connected
devices in the world, it's more valuable financially to enterprises,
developers, hardware vendors and ultimately to the consumers of all
Unlike API Management vendors, MachineShop does far more than just
aggregate and manage APIs. The company created hundreds of unique
services that complement the wide range of APIs available from third
parties, or those written by companies themselves. MachineShop's APIs
uniquely normalize interfaces to connected things and also include a
rich set of business logic, event management and communications
services that developers find valuable when building and integrating
solutions. All of these are then exposed to customers through public
or private Services Exchanges, which become a private API store of
sorts. These Services Exchanges provide authenticated, metered and
managed access to these discrete services regardless of who authored
or hosts them.
Diebold is a global leader in providing innovative self-service
technology and security systems, and was also one of MachineShop's
first customers. MachineShop provided the API framework during the
development phase of Diebold's SecureStat(R), an innovative,
web-based security system management tool that unifies disparate
systems and services while providing a single interface for real-time
administration of security operations across an enterprise.
"Diebold has a deep commitment to leveraging emerging technologies to
deliver differentiated products and services to its customers
worldwide," said Tony Byerly, Diebold executive vice president,
Electronic Security. "MachineShop has been an important partner for
our security business in supporting our services-enablement strategy,
and we are enthusiastic about their future."
Because MachineShop's Services Exchange offering is not a platform,
developers have complete flexibility to build applications or
integrate systems in any programming language, with any tools and
deployed on any infrastructure they choose. This is a dramatic
departure from the way traditional enterprise, Machine to Machine or
Internet of Thing platforms operate today.
A key strategic partner for MachineShop is investor Xchanging plc,
the business process, technology and procurement services provider,
"The value for customers is where technology can be applied to enable
intelligent conversations between people, processes and machines,"
said Andrew Binns, executive director, Xchanging. "We're pleased to
invest and partner with MachineShop. Through our combined
technologies, we have the ability to our offer our clients the tools
needed to expose data and make it available for analysis and in turn,
actionable business services."
CSR is a pioneering designer and developer of silicon and software
for the consumer electronics market and is excited by the growth
opportunity presented by the Internet of Things. "The Internet of
Things will not be built around products alone. As the market
evolves, services will become increasingly important, and MachineShop
understands that aspect of the market," said Will Gardiner, CFO, CSR.
"We are investing in MachineShop because its technology eliminates
complexity by simplifying and standardizing the way information is
managed so that physical and virtual assets and services can work
together in one integrated system."
MachineShop provides the on-ramp to the Internet
of Services where trillions of transactions will occur between
billions of physical things and their interactions with other
systems, applications and people. MachineShop's public or private
Services Exchange allow customers to subscribe to thousands of
unique, managed API-centric services regardless of whether they are
developed by MachineShop, its customers or other third parties. For
more information, visit www.machineshop.io or @MachineShopIO
CSR is a global provider of innovative silicon and
software solutions for the location-aware, media-rich,
cloud-connected world. Our platforms are optimised for the automotive
navigation and infotainment, document imaging, connected home
infotainment and wireless audio markets. We provide solutions to
complex problems in the audio-visual, connectivity and location
technology domains across a broad range of markets, with a technology
portfolio that includes GPS/GNSS systems, Bluetooth(R), Wi-Fi(R), FM,
NFC, aptX(R)and CVC(TM) audio codecs, JPEG, MPEG, H.264 imaging, PDL
printing, microcontrollers, DSPs and broadband receivers. CSR's
technology solutions and market platforms enable its customers to
deliver a superior user experience and are adopted by leaders in the
auto, computer, home and mobile markets. More information can be
found at www.csr.com. Keep up to date with CSR on our technical blog
or CSR people blog, YouTube, Facebook or follow us on Twitter
Diebold, Incorporated (NYSE: DBD) is a global leader
in providing innovative self-service technology, security systems and
related services. Diebold has approximately 16,000 employees
worldwide and is headquartered near Canton, Ohio, USA. Visit Diebold
at www.diebold.com or on Twitter: http://twitter.com/DieboldInc.
What we are
Xchanging provides business
processing, technology and procurement services internationally for
customers across multiple industries.
What we do
innovation, thought leadership and passion to its customers'
businesses so as to enhance performance and value. Our values are
embedded into everything we do.
What we want to be
to be regarded as the best provider in its chosen markets by
delivering services that are recognised for outstanding quality,
reliability and innovation.
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