In-Q-Tel picks up stake in US-based data prep firm Paxata

March 8
7:56 AM 2014

In-Q-Tel (IQT) has acquired a stake in adaptive data preparation firm Paxata, according to InformationWeek. The size of the stake and the value of the transaction were not disclosed in the said report.

Paxata Chief Executive Officer (CEO) Prakash Nanduri said the platform's analytical tools are user-friendly. Paxata caters to government analysts to help them come up with clean data sets for analytics. Aside from that, it has a feature that can track data lineage and allow several people to simultaneously work on the same data set, the report detailed.

The adaptive data preparation platform is cloud based. Therefore, clients can easily store and share large amounts of data using the platform. Users can also customize the security settings and the access of every group using Paxata's platform, the repot explained.

UBS, Box, and Dannon are among the clients of Paxata, the report added.

IQT is the investment unit of the intelligence community in the US, InformationWeek reported.

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