TTC Group acquires Czech technology company Mycroft Mind
The Czech investment group, TTC Group, has completed its acquisition of the Brno-based technology company Mycroft Mind and is now its majority owner, with a 70% stake in the company. The remaining 30 % was retained by the original owners, Support Universal (10 %), Moore Technology CZ (10 %), and its co-founder Filip Prochazka (10 %).
Mycroft Mind was founded in 2007 as a spin-off of the Masaryk University in Brno and is currently one of the leading companies in the field of big data processing and analysis. In 2021, its revenue reached a total of CZK 184 million.
“The transition to decentralised energy, along with modernisation of rail transport, will require individual companies to ensure the continuous collection, processing and analysis of data from tens to hundreds of thousands of sensors, often in real time. Our ambition is to become one of Europe’s leading solution providers in this area within the next three years. We believe that the integration of Mycroft Mind into our group will help us to successfully achieve this goal,” says Josef Selepa, Chairman of the Board of Directors of TTC HOLDING.
Mycroft Mind has developed its own software platform, DataGenie, for collecting and processing data from large-scale sensor networks. The platform covers the entire lifecycle, from collecting data from sensors and meters in the field, to validation and advanced analytical processing. This includes, for example, the detection of behavioral patterns and anomalies, and then the subsequent prediction of future developments.
Mycroft Mind’s clients include all of the main electricity distribution companies in the Czech Republic – ČEZ, EG.D and PRE – as well as Iberdrola, which is the largest Spanish distributor and one of the most important global energy companies. In Spain, for example, Mycroft Mind helps with the detection of electricity theft. As part of a consortium of companies in the Czech Republic, led by TTC MARCONI, it is currently participating in the creation of a system that collects, stores and analyzes data from approximately 20,000 ČEZ distribution substations, which will be essential for decentralized energy.