UiPath acquired Re: Conclusion to further integrate Natural Language Processing (NLP) with RPA and workflow automation software. Primary goal: to allow partners and customers to “minor, monitor, and automate every conversation.” The financial terms of the deal were not disclosed.
This is the 691st technology merger and acquisition deal that ChannelE2E has covered so far in 2022.
UiPath acquires Re:Conclusion: Business automation software details
Re:infer, founded in 2015, is headquartered in London, England. The company has 38 employees listed on LinkedIn. Re: The inference software uses machine learning (ML) technology to mine context from communication messages and “transform them into actionable data quickly and accurately,” the vendor asserts. The seller noted that the main clients are Deutsche Bank, Heskox and Farfetch.
Re: Infer has raised $7.6 million through February 2022 from venture capital firms such as Crane Venture Partners, IP Group and Seedcamp, and from independent investors Jason Kingdon, Martin Moran and Dai Yamani.
Prior to the merger and acquisition deal, Re: Key Conclusion Partners included: Accenture, Blueprism, Deloitte, Fujitsu, ISG, Jaam, MobileCloud, Prodapt, Reveal Group, Symphony, Synechron and UiPath.
Meanwhile, UiPath remains a rapidly growing provider of RPA software. Revenue was $245.1 million in the first quarter of fiscal 2023, up 32 percent from the corresponding quarter last year, according to its June 1, 2022 earnings statement. However, UiPath lowered its employee headcount targets in an effort to improve its path to profitability, According to a statement issued in June 2022.
Re: Inference product capabilities are available to UiPath customers in private preview. The buyer said that more details will be announced at the UiPath FORWARD 5 conference in September 2022.
UiPath Buys Re: Conclusion: Executive Perspectives
In a prepared statement regarding the deal, Ted Kommert, executive vice president of product and engineering at UiPath, said:
Automation and AI are a powerful, natural couple that work together to advance the vision of a fully automated enterprise. Our clients are overwhelmed by the documents, communications, and data they need to understand meaning and process efficiently. The combination of Re: infer’s NLP technology, Document Understanding and AI products expands existing AI-powered automation capabilities and unlocks new automation opportunities for our customers.”
Dr. Ed Shallis, CEO and Co-Founder of Re:infer, added:
“Automating the interpretation of documents and communications data is bridging the gap between humans and IT systems, and structured and unstructured data to advance enterprise digital transformation efforts. We have spent the past seven years building innovative technology and believe UiPath will take us to another level. We couldn’t be more excited. To reach the power of the UiPath scale and deliver Re: Conclusion to a new global audience. We are joining the leader in enterprise automation and it’s a great day for us.”
Robotic Process Automation (RPA) Software Market Outlook, MSP . Opportunities
Market forecasts indicate that the overall automation software market will continue to grow rapidly and indeed, the global robotic process automation market is expected to reach $10.7 billion by 2027, expanding at a compound annual growth rate (CAGR) of 33.6% from 2020 to 2027, according to Grand View Research Inc.
Amid the growth of the RPA market, many companies are acquiring the RPA software providers and consulting skills associated with RPA technology.
Major enterprise-focused RPA software companies include Automation Anywhere, Blue Prism, Microsoft Power Automate, Salesforce, ServiceNow, and UiPath, among others. Moreover, startups like Rewst and ElectroNeek want to bring the power of RPA to the MSP sector.
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