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June 9, 2014 - International data mining platform AlgoMost launched a new competition focusing on M&A (Mergers and Acquisitions). The goal of the competition is to predict what companies are more likely to be acquired during the current fiscal year. The contest will run until the end of August 2014.
The increase of global mergers and acquisitions market is expected during 2014 according to Reuters. AlgoMost platform that already unites more than 500 teams of data miners and data scientists (solvers) around the world is launching this contest due to the relevance of the topic and transforming economy.
The total prize fund of $ 15,000 will be allocated due to several terms. At the end of August 2014 first $ 5000 will be received by best solvers according to evaluation of their solutions at its functionality and expert opinion. In March 2015 the main prize of $ 10,000 will be awarded. By this time the annual financial results of companies will be announced and there would be no doubt around companies` merger happened. There would be a completely objective data.
"We are fully committed to the principle of awarding the main prize to the one who is capable of creating best algorithm for solving a particular problem, - commented Mikhail Leviev, CEO of AlgoMost platform. We would actually see what acquisitions have taken place: the one who was the most accurate to predict them would get the prize. We create a precedent - it's a real challenge to the Global Intelligence to check the ability of solving similar problems”.
AlgoMost provides a service to society, government and business. Capabilities that are presented by the utility hidden in data will change people's minds, recast the work of whole governments and improve business processes at all levels.
AlgoMost is an operating data mining platform, established in 2012. We do not only provide clients with the service of our in-house team but also we also grant access to Global Intelligence of leading data specialists and mathematicians. We take company’s data, diagnose the problem and turn it into a task. Global Intelligence then gets to work. Hundreds of solvers – data scientists all over the world – start to compete with each other to solve a problem. Client then receives a synergetic algorithm which combines the best solutions. We offer clients customized Global Intelligence as a result. We create the team of the best solvers (called “SmartGrid”), who will work with clients on a regular basis. AlgoMost ensures first-class results from client data.