The year 2021 is a recovery year for businesses after the sudden outbreak of the coronavirus pandemic in 2020. This pandemic has begun acquiring phenomenal changes in some key areas. The advancements of faster drug development, powerful remote care, productive supply chain, and so forth. There are several artificial intelligence mergers and acquisitions that happened within hi-tech companies.
In September 2021, many mergers and acquisitions took place. The tech giants are always ready to acquire smaller organizations, concentrated principally in niche and imaginative regions that can help in earning better revenue and customer engagement with new products and services in the global market.
Let's look at top artificial intelligence mergers and acquisitions that took place so far in September 2021:
Fobi AI Inc. a global leader in providing real-time data analytics through artificial intelligence to drive operational efficiencies and profitability, has entered into an asset purchase agreement to acquire certain specific assets and liabilities from Qples, Inc., to be effected together with a wholly-owned subsidiary of the Company for total consideration of approximately US$3.2 million, plus up to an additional US$1 million earn-out. The acquisition of Qples is an important step in Fobi's strategy to connect CPG brands and retailers, as well as, become leaders in key retail verticals such as Grocery and Convenience.
Sitecore the global leader in digital experience management software, on September 02, 2021, announced the acquisition of San Mateo-based Reflektion, an AI-powered digital search platform that understands and predicts patterns, context, and needs to convert shoppers into buyers. The combination of Sitecore and Reflektion enables Sitecore to engage, educate, and empower shoppers to make purchase decisions faster – increasing buyer confidence, long-term revenue, and overall customer satisfaction and loyalty. A continuation of Sitecore's ongoing US$1.2 billion growth plan – will help marketers solve the information overload that is characteristic of traditional search solutions, which leaves customers unable to find and select the right product.
Supply chain platform project44, which offers technology to help shippers and logistics service providers see where their shipments are, on September 21, 2021, announced that it has bought delivery experience management company Convey in a US$255 million purchase. With the acquisition, project44 and Convey link more than 880 global shippers and third-party logistics providers with a network of 113,000 carriers, 2.6 million assets, and more than 9 billion shipments.
Together, the companies serve the worldwide supply chain end-to-end and can help shippers increase revenue and improve costs, speed, and the overall delivery experience. The companies can provide up-to-the-minute insight from every step of the supply chain and delivery journey to assist companies in offering direct-to-consumer and e-Commerce experiences for their customers.
Payments tech firm Priority Technology Holdings, Inc. on September 17, 2021, finalized its acquisition of Banking-as-a-Service platform Finxera Holdings, Inc. Priority Technology Holdings now have the premier platform to collect, store and send money with a full breadth of payment and virtual banking capabilities. With Finxera joining Priority, the company is projected to bring in US$547-$570 million in revenue this year.
Slinger Bag a sports brand focused on innovating game improvement technology and equipment, with the vision to become a connected sports company, on September 27, 2021, announced it has agreed to acquire GAMEFACE.AI, an award-winning artificial intelligence (AI) technology provider for sports. The AI market in sports has a projected growth rate of 28.7% over the next five years, and the overall sports analytics market is expected to reach US$5.2 billion by 2025.
The acquisition of GAMEFACE.AI will further enhance Slinger's internal technology capabilities across AI, data collection, and performance analysis, initially building upon its core tennis offering while also creating opportunities to build connected products and services serving new sports and markets, from consumer technology and media to sports betting and a wide array of data opportunities that fit within the Slinger ecosystem.
Mitratech Holdings Inc is scooping up digital governance, risk management, and compliance software provider Alyne GmbH in its third acquisition this year. Austin, Texas-based Mitratech, a legal and compliance software provider, on September 22, 2021, announced the deal that will allow its customers to leverage Alyne's artificial intelligence-powered capabilities, reduce risk "in real-time" and get "quantifiable risk impacts."
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