The year 2021 is a year of recovery for businesses after the sudden onset of the coronavirus pandemic in 2020. This pandemic has started to acquire phenomenal changes in some key areas. Advances in faster drug development, powerful remote care, productive supply chain, etc. Several artificial intelligence mergers and acquisitions have taken place within high-tech companies.
In September 2021, many mergers and acquisitions took place. Tech giants are always keen to acquire smaller organizations, mostly concentrated in niche and imaginative regions that can help generate better revenue and better customer engagement with new products and services in the global market.
Let’s take a look at the main AI mergers and acquisitions that have taken place so far in September 2021:
Fobi to acquire Qples
Fobi AI Inc., a global leader in providing real-time data analytics using artificial intelligence to improve operational efficiency and profitability, has entered into an asset purchase agreement to acquire certain assets and specific liabilities of Qples, Inc., to be carried out jointly with a wholly owned subsidiary of the Company for a total consideration of approximately US $ 3.2 million, plus an additional earn-out of up to US $ 1 million. The acquisition of Qples is an important step in Fobi’s strategy to connect CPG brands and retailers, as well as to become leaders in key verticals such as grocery and convenience.
Sitecore acquires Reflektion
Sitecore, the global leader in digital experience management software, announced on September 2, 2021 the acquisition of San Mateo-based Reflektion, an AI-powered digital research platform that understands and predicts patterns , the context and the needs to convert buyers into buyers. The combination of Sitecore and Reflektion enables Sitecore to engage, educate and empower buyers to make buying decisions faster, increasing buyer confidence, long-term revenue and satisfaction. and overall customer loyalty. The continuation of Sitecore’s ongoing US $ 1.2 billion growth plan will help marketers address the information overload characteristic of traditional search solutions, which prevents customers from finding and selecting the right product.
Project44 acquires Convey
The Supply Chain Platform Project44, which offers technology to help shippers and logistics service providers see where their shipments are located, announced on September 21, 2021 that it had acquired the management company of the Convey delivery experience for a purchase of $ 255 million. With the acquisition, project44 and Convey connect more than 880 global shippers and third-party logistics providers to a network of 113,000 carriers, 2.6 million assets and more than 9 billion shipments.
Together, the companies serve the global end-to-end supply chain and can help shippers increase revenue and improve costs, speed and the overall delivery experience. Businesses can provide up-to-date information at every step of the supply chain and delivery journey to help businesses deliver direct-to-consumer and e-commerce experiences for their customers.
Priority Technology Holdings acquires Finxera
Payment technology company Priority Technology Holdings, Inc. completed on September 17, 2021 its acquisition of the Banking-as-a-Service platform Finxera Holdings, Inc. Priority Technology Holdings now has the first platform to collect , store and send money with a wide range of payment and virtual banking capabilities. With Finxera joining Priority, the company is expected to generate $ 547-570 million in revenue this year.
Slinger will acquire GAMEFACE.AI
Slinger Bag, a sports brand focused on innovative game-enhancing technology and equipment with a vision of becoming a connected sports company, announced on September 27, 2021 that it has agreed to acquire GAMEFACE.AI , award-winning artificial intelligence (AI) technology. sports provider. The AI in sports market has a projected growth rate of 28.7% over the next five years, and the overall sports analytics market is expected to reach $ 5.2 billion by 2025.
The acquisition of GAMEFACE.AI will further enhance Slinger’s internal technology capabilities in AI, data collection and performance analysis, initially building on its core tennis offering while creating opportunities for create connected products and services to serve new sports and markets, from consumer and media technology to sports betting and a wide range of data opportunities that fit into the Slinger ecosystem.
Mitratech continues its acquisition campaign with Alyne Addition
Mitratech Holdings Inc is taking over digital governance, risk management and compliance software provider Alyne GmbH in its third acquisition this year. Mitratech, an Austin, Texas-based legal and compliance software provider, announced on September 22, 2021 the deal that will allow its customers to leverage Alyne’s AI-powered capabilities, reduce risk “In real time” and to obtain “a quantifiable risk repercussions.” “
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