Dec
19
2018
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These ten enterprise M&A deals totaled over $87 billion this year

M&A activity was brisk in the enterprise market this year with 10 high-profile deals totaling almost $88 billion. Companies were opening up their wallets and pouring money into mega acquisitions. It’s worth noting that the $88 billion figure doesn’t include Dell paying investors over $23 billion for VMware tracking stock to take the company public again or several other deals of over a billion dollars that didn’t make our list.

Last year’s big deals included Intel buying MobileEye for $15 billion and Cisco getting AppDynamics for $3.7 billion, but there were not as many big ones. Adobe, which made two large acquisitions this year was mostly quiet last year only make a minor purchase. Salesforce too was mostly quiet in 2017, only buying a digital creative agency, after an active 2016. SAP also made only one purchase in 2017, paying $350 million for Gigya. Microsoft was active buying 9 companies, but these were primarily minor. Perhaps everyone was saving their pennies for 2018.

This year by contrast was go big or go home, and we saw action across the board from the usual suspects. Large companies looking to change their fortunes or grow their markets went shopping and came home with some expensive trinkets for their collections. Some of the deals are still waiting to pass regulatory hurdles and won’t be closing until 2019. Regardless, it’s too soon to judge whether these big-bucks ventures will pay the dividends that the their buyers hope, or if they end up being M&A dust in the wind.

IBM acquires Red Hat for $34 billion

By far the biggest and splashiest deal of the year goes to IBM, which bet the farm to acquire Red Hat for a staggering $34 billion. IBM sees this acquisition as a way to build out its hybrid cloud business. It’s a huge bet and one that could determine the success of Big Blue as an organization in the coming years.

Broadcom nets CA Technologies for $18.5 billion

This deal was unexpected as Broadcom, a chip maker, spent the second largest amount of money in a year of big spending. What Broadcom got for its many billions was an old school IT management and software solutions provider. Perhaps Broadcom felt it needed it to branch out beyond pure chip making and CA offered a way to do it, albeit a rather expensive one.

SAP buys Qualtrics for $8 billion

While not anywhere close to the money IBM or Broadcom spent, SAP went out and nabbed Qualtrics last month just before the company was about to IPO, still paying a healthy $8 billion. The company believes that the new company could help build a bridge between SAP operational data inside its back-end ERP systems and Qualtrics customer data on the front end. Time will tell if they are right.

Microsoft gets Github for $7.5 billion

In June, Microsoft swooped in and bought Github, giving it a key developer code repository. It was a lot of money to pay, and Diane Greene expressed regret that Google hadn’t been able to get it. That’s because cloud companies are working hard to win developer hearts and minds. Microsoft has a chance to push Github users toward its products, but it has to tread carefully because they will balk if Microsoft goes too far.

Salesforce snares Mulesoft for $6.5 billion

Salesforce wasn’t about to be left out of the party in 2018 and in March, the CRM giant announced it was buying API integration vendor, Mulesoft for a cool $6.5 billion. It was a big deal for Salesforce, which tends to be acquisitive, but typically on smaller deals. This one was a key purchase though because it gives the company the ability to access data wherever it lives, on premises or in the cloud, and that could be key for them moving forward.

Adobe snags Marketo for $4.75 billion

Adobe has built a strong company primarily on the strength of its Creative Cloud, but it has been trying to generate more revenue on the marketing side of the business. To that end, it acquired Marketo for $4.75 billion and immediately boosted its marketing business, especial when combined with the $1.68 billion Magento purchase earlier in the year.

SAP acquires CallidusCloud for $2.4 billion

SAP doesn’t do as many acquisitions as some of its fellow large tech companies mentioned here, but this year it did two. Not only did it buy Qualtrics for $8 billion, it also grabbed CallidusCloud for $2.4 billion. SAP is best known for managing back office components with its ERP software, but this adds a cloud-based, front-office sales process piece to the mix.

Cisco grabs Duo Security for $2.35 billion

Cisco has been hard at work buying up a variety of software services over the years, and this year it added to its security portfolio when it acquired Duo Security for $2.35 billion. The Michigan-based company helps companies secure applications using their own mobile devices and could be a key part of the Cisco security strategy moving forward.

Twilio buys SendGrid for $2 billion

Twilio got into the act this year too. While not in the same league as the other large tech companies on this list, it saw a piece it felt would enhance its product set and it was willing to spend big to get it. Twilio, which made its name as a communications API company, saw a kindred spirit in SendGrid, spending $2 billion to get the API-based email service.

Vista snares Apttio for $1.94 billion

Vista Equity Partners is the only private equity firm on the list, but it’s one with an appetite for enterprise technology. With Apttio, it gets a company that can help companies understand their cloud assets alongside their on-prem ones. The company had been public before Vista bought it for $1.94 billion last month.

Dec
18
2018
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Cisco to acquire silicon photonics chip maker Luxtera for $660 million

As networks get put under increasing pressure from ever-growing amounts of data, network equipment manufacturers are facing huge challenges to increase data transmission speeds over farther distances. As a premier networking equipment company, Cisco wants to be prepared to meet that demand. Today, it opened up its checkbook and announced its intent to acquire Luxtera for $660 million.

Luxtera, which was founded in 2001 and raised more than $130 million, will give Cisco a photonic solution for that data networking problem. Rob Salvagno, head of Cisco’s M&A and venture investment team, sees a company that can help modernize Cisco’s networking equipment.

“That’s why today we announced our intent to acquire Luxtera, Inc., a privately-held semiconductor company that uses silicon photonics technology to build integrated optics capabilities for webscale and enterprise data centers, service provider market segments, and other customers. Luxtera’s technology, design and manufacturing innovation significantly improves performance and scale while lowering costs,” he wrote in a blog post announcing the acquisition.

Photonics uses light to move large amounts of data at higher speeds over increased distances via fiber optic cable. Cisco sees this as a way to future-proof customer networking requirements, while keeping them on Cisco equipment. “The combination of Cisco’s and Luxtera’s capabilities in 100GbE/400GbE optics, silicon and process technology will enable customers to build future-proof networks optimized for performance, reliability and cost,” Salvagno wrote.

While Cisco has been acquiring its share of high-profile software properties in recent years, including AppDyanmics for $3.7 billion in 2017 and Jasper Technologies for $1.4 billion in 2016, it also acquired Israeli chip designer Leaba Semiconductor for $320 million in 2016 for its advanced chip making capability.

Today’s announcement would seem to build on that earlier purchase as Cisco tries to modernize its hardware offerings to meet increasingly stringent demands inside large-scale data centers.

The acquisition is subject to the typical regulatory scrutiny, but Cisco expects it to close in its fiscal year 2019 Q3. It reported its Q1 2019 earnings in November.

Dec
10
2018
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Trello acquires Butler to add power of automation

Trello, the organizational tool owned by Atlassian, announced an acquisition of its very own this morning when it bought Butler for an undisclosed amount.

What Butler brings to Trello is the power of automation, stringing together a bunch of commands to make something complex happen automatically. As Trello’s Michael Pryor pointed out in a blog post announcing the acquisition, we are used to tools like IFTTT, Zapier and Apple Shortcuts, and this will bring a similar type of functionality directly into Trello.

Screenshot: Trello

“Over the years, teams have discovered that by automating processes on Trello boards with the Butler Power-Up, they could spend more time on important tasks and be more productive. Butler helps teams codify business rules and processes, taking something that might take ten steps to accomplish and automating it into one click,” Pryor wrote.

This means that Trello can be more than a static organizational tool. Instead, it can move into the realm of light-weight business process automation. For example, this could allow you to move an item from your To Do board to your Doing board automatically based on dates, or to share tasks with appropriate teams as a project moves through its life cycle, saving a bunch of manual steps that tend to add up.

The company indicated that it will be incorporating the Alfred’s capabilities directly into Trello in the coming months. It will make it available to all levels of users, including the free tier, but they promise more advanced functionality for Business and Enterprise customers when the integration is complete. Pryor also suggested that more automation could be coming to Trello. “Butler is Trello’s first step down this road, enabling every user to automate pieces of their Trello workflow to save time, stay organized and get more done.”

Atlassian bought Trello in 2017 for $425 million, but this acquisition indicates it is functioning quasi-independently as part of the Atlassian family.

Dec
07
2018
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IBM selling Lotus Notes/Domino business to HCL for $1.8B

IBM announced last night that it is selling the final components from its 1995 acquisition of Lotus to Indian firm HCL for $1.8 billion.

IBM paid $3.5 billion for Lotus back in the day. The big pieces here are Lotus Notes, Domino and Portal. These were a big part of IBM’s enterprise business for a long time, but last year Big Blue began to pull away, selling the development part to HCL, while maintaining control of sales and marketing.

This announcement marks the end of the line for IBM involvement. With the development of the platform out of its control, and in need of cash after spending $34 billion for Red Hat, perhaps IBM simply decided it no longer made sense to keep any part of this in-house.

As for HCL, it sees an opportunity to continue to build the Notes/Domino business, and it’s seizing it with this purchase. “The large-scale deployments of these products provide us with a great opportunity to reach and serve thousands of global enterprises across a wide range of industries and markets,” C Vijayakumar, president and CEO at HCL Technologies, said in a statement announcing the deal.

Alan Lepofsky, an analyst at Constellation Research who keeps close watch on the enterprise collaboration space, says the sale could represent a fresh start for software that IBM hasn’t really been paying close attention to for some time. “HCL is far more interested in Notes/Domino than IBM has been for a decade. They are investing heavily, trying to rejuvenate the brand,” Lepofsky told TechCrunch.

While this software may feel long in the tooth, Notes and Domino are still in use in many corners of the enterprise, and this is especially true in EMEA (Europe, Middle East and Africa) and AP (Asia Pacific), Lepofsky said.

He added that IBM appears to be completely exiting the collaboration space with this sale. “It appears that IBM is done with collaboration, out of the game,” he said.

This move makes sense for IBM, which is moving in a different direction as it develops its cloud business. The Red Hat acquisition in October, in particular, shows that the company wants to embrace private and hybrid cloud deployments, and older software like Lotus Notes and Domino don’t really play a role in that world.

The deal, which is subject to regulatory approval processes, is expected to close in the middle of next year.

Nov
20
2018
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Autodesk agrees to buy PlanGrid for $875 million

Autodesk announced plans to acquire PlanGrid for $875 million today. The San Francisco startup helped move blueprints from paper to the iPad when it launched in 2011.

This digitization of construction fits with Autodesk’s vision of digitizing design in general, and CEO Andrew Anagnost certainly recognized the transformational potential of the company he was buying. “There is a huge opportunity to streamline all aspects of construction through digitization and automation. The acquisition of PlanGrid will accelerate our efforts to improve construction workflows for every stakeholder in the construction process,” he said in a statement.

The company, which is a 2012 graduate of Y Combinator, raised just $69 million, so this appears to be a healthy exit for the them. PlanGrid took what was a paper-intensive task and shifted it to digital, taking a world of hand-written mark-ups and sticky notes onto the fledgling iPad.

In an interview with CEO and co-founder Tracy Young in 2015 at TechCrunch Disrupt in San Francisco, she said the industry was ripe for change. “The heart of construction is just a lot of construction blueprints information. It’s all tracked on paper right now and they’re constantly, constantly changing,” Young said at the time.

Those manual changes often resulted in errors she said, and that was costly for the contractors. As an engineer working for a construction company, who was at one time responsible for making the paper copies, she recognized that the process could be improved by moving it into the digital realm.

PlanGrid CEO Tracy Young onstage at TechCrunch Disrupt San Francisco in 2015

Her idea, which was kind of radical in 2011 when she started the company, was to move all that paper to the cloud and display it on an iPad. It’s important to remember that the enterprise was not rushing to the cloud in 2011, and most people considered the iPad at the time to be a consumer device, so what she and her co-founders were attempting was a true kind of industry transformation.

Young sees joining Autodesk as a way to continue building on that early vision. “PlanGrid has excelled at building beautiful, simple field collaboration software, while Autodesk has focused on connecting design to construction. Together, we can drive greater productivity and predictability on the jobsite,” she said in a statement.

PlanGrid currently has 400 employees, 12,000 customers and 120,000 paid users, and has been used on over a million construction projects worldwide, according to data provided by the companies. They believe that under Autodesk’s umbrella and combined with their existing product set, they can provide a complete construction solution and grow the business faster than PlanGrid could have on its own — pretty much the standard argument in an acquisition like this.

PlanGrid was efficient with the money it took. In fact the last raise was $50 million almost exactly three years ago. The deal is expected to close at the end of January pending the normal regulatory approval process.

 

Nov
19
2018
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Microsoft acquires FSLogix to enhance Office 365 virtual desktop experience

Back in September, Microsoft announced a virtual desktop solution that lets customers run Office 365 and Windows 10 in the cloud. They mentioned several partners in the announcement that were working on solutions with them. One of those was FSLogix, a Georgia virtual desktop startup. Today, Microsoft announced it has acquired FSLogix. It did not share the purchase price.

“FSLogix is a next-generation app-provisioning platform that reduces the resources, time and labor required to support virtualization,” Brad Anderson, corporate VP for Microsoft Office 365 and Julia White, corporate VP for Microsoft Azure,  href=”https://blogs.microsoft.com/blog/2018/11/19/microsoft-acquires-fslogix-to-enhance-the-office-365-virtualization-experience/”>wrote in a joint blog post today.

When Microsoft made the virtual desktop announcement in September they named Citrix, CloudJumper, Lakeside Software, Liquidware, People Tech Group, ThinPrint and FSLogix as partners working on solutions. Apparently, the company decided it wanted to own one of those experiences and acquired FSLogix.

Microsoft believes by incorporating the FSLogix solution, it will provide a better virtual desktop experience for its customers by enabling better performance and faster load times, especially for Office 365 ProPlus customers.

Randy Cook, founder and CTO at FSLogix, said the acquisition made sense given how well the two companies have worked together over the years. “From the beginning, in working closely with several teams at Microsoft, we recognized that our missions were completely aligned. Both FSLogix and Microsoft are dedicated to providing the absolute best experience for companies choosing to deploy virtual desktops,” Cook wrote in a blog post announcing the acquisition.

Lots of companies have what are essentially dumb terminals running just the tools each employee needs, rather than a fully functioning standalone PC. Citrix has made a living offering these services. When employees come in to start the day, they sign in with their credentials and they get a virtual desktop with the tools they need to do their jobs. Microsoft’s version of this involves Office 365 and Windows 10 running on Azure.

FSLogix was founded in 2013 and has raised more than $10 million, according to data on Crunchbase. Today’s acquisition, which has already closed according to Microsoft, comes on the heels of last week’s announcement that the company was buying Xoxco, an Austin-based developer shop with experience building conversational bots.

Nov
15
2018
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Citrix pays $200M to acquire Sapho, which connects legacy software with ‘micro apps’

As large organizations grapple with adopting modern work practices without throwing out all of their legacy software, a company that works with them is making an acquisition that it hopes will help with that process. Citrix today is announcing that it has acquired Sapho, a startup that develops “micro apps” for legacy software so that workers could use them as they would more modern applications: in the cloud, on mobile and more.

We understand that the acquisition was for around $200 million in an all-cash deal. It’s a good return: Sapho had raised just under $28 million since 2014 from investors that included AME Cloud Ventures, Louie Alsop, Felicis Ventures and more. Including co-founders Fouad ElNaggar and Peter Yared, the whole team of 90 employees, based mainly in the Bay Area and a development office in Prague, will be joining Citrix.

Citrix, for its part, currently has a market cap of about $14 billion and has been seeing a surge of interest under new CEO David Henshall, who has repositioned it from focusing mainly on virtual private networking services to a more hybrid cloud model, following a wider trend in the world of enterprise IT.

Citrix will be bringing on all of Sapho’s existing business and products. The two companies already have a strong overlap in their customer bases, CEO ElNaggar said, and it was in fact several of those customers asking for more integrations with Citrix services that drove Citrix approaching Sapho for this deal.

“The largest companies in the world are using Citrix and have a massive hybrid environment where they need to provide a more engaging set of experiences for their employees,” Tim Minahan, EVP Business Strategy and CMO of Citrix, said in an interview. “It doesn’t mean they will rip everything out and put in new software, and Sappho provides a great way to leverage that infrastructure and make them more insightful in their decision making. We see it as a way to rethink the role that enterprise apps play in their environment.”

Typical tasks that Sapho today provides integrations for by tapping into legacy software include expense reporting, sales software, IT support tickets and HR tasks. It feeds data from these into services like Microsoft Teams, Microsoft Dynamics, Oracle’s EBS, Salesforce and SAP ERP, Workday, Google Drive and more.

Ahead of Citrix buying Sapho we’d heard that IBM and Microsoft had eyed up the company and entered into early talks, underscoring the work Sapho had done, the deals it was winning and the gap in the market that it was filling.

Nov
12
2018
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Analysts weighing in on $8B SAP-Qualtrics deal don’t see a game changer

SAP CEO Bill McDermott was jacked up today about his company’s $8 billion Qualtrics acquisition over the weekend. You would expect no less for such a big deal. McDermott believes the data Qualtrics provides could bridge the gap between his company’s operational data and customer, data wherever that resides.

The idea behind Qualtrics is to understand customer sentiment as it happens. McDermott sees this as a key piece to the company’s customer management puzzle, one that could propel it into being not only a big player in customer experience, but also drive the company’s underlying cloud business. That’s because it provides a means of constant feedback from the customer, one that is hard to ascertain otherwise.

In that context, he saw the deal as transformative. “By combining this experience data with operations, we can combine this through Qualtrics and SAP in a way that the world has never done before, and I fundamentally believe it will change this world as we know it today,” McDermott told TechCrunch on Monday.

Others who follow the industry closely were not so convinced. While they liked the deal and saw the potential of combining these types of data, it might not be the game changer that McDermott is hoping for after spending his company’s $8 billion.

Paul Greenberg, who is managing principal at The 56 Group and author of the seminal CRM book, CRM at the Speed of Light, says it’s definitely a big acquisition for the company, but he says it takes more than an acquisition or two to challenge the market leaders. “This will be a beneficial acquisition for SAP’s desire to continue to pivot the company to the customer-facing side, but it isn’t a decisive one by any means,” Greenberg told TechCrunch.

Customer experience is a broad term that involves understanding your customer at a granular level, anticipating what they want, understanding who they are, what they have bought and what they are looking for right now. These are harder problems to solve than you might imagine, especially since they involve gathering data across systems from a variety of vendors that deal with different pieces of the puzzle.

Companies like Adobe and Salesforce have made this their primary business focus. SAP is at its heart an ERP company, which gathers data by managing key internal operational systems like finance, procurement and HR.

Tony Byrne, founder and principal analyst at Real Story Group, says he likes what Qualtrics brings to SAP, but he is not sure it’s quite as big a deal as McDermott suggests. “Qualtrics enables you to do more sophisticated forms of research which marketers certainly want, but the double benefit is that — unlike SurveyMonkey and others — Qualtrics has experience on the digital workplace side, which could complement some of SAP’s HR tooling.” But he adds that it’s not really the central CEM piece, and that his company’s research has found that SAP still has holes, particularly when it comes to marketing tools and technologies (MarTech).

Brent Leary, who is founder at CRM Essentials, agrees that SAP got a nice company, especially when combined with the $2.4 billion CallidusCloud purchase from earlier this year, but it has a ways to go to catch up with Salesforce and Adobe. “Qualtrics does provide a more broad perspective of customers because of operational data from back and front office systems. The Callidus acquisition helps to turn insights into certain B2B-focused customer experiences. But I think more pieces may be needed in terms of B2C experience creation tools that companies like Adobe and Salesforce are focusing on with the marketing/experience clouds,” he explained.

Whether this is an actual game changer as McDermott suggested remains to be seen, but the industry experts we spoke to believe it will be more of an incremental piece that helps move the company’s customer experience initiative forward. If they’re right, McDermott might not be finished shopping just yet.

Nov
12
2018
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Enterprise shopping season starts early with almost $50B in recent deals

Black Friday may still be 10 days away, but shopping season started early in the enterprise this year. We have seen acquisitions totaling almost $50 billion in the last couple of months alone, topped by the mega $34 billion IBM-Red Hat deal two weeks ago. What exactly is going on here?

While not every deal has been for that kind of money, we are seeing an unusually large number of mega deals this year, something that some folks were predicting would happen when the big tech companies were allowed to repatriate their money as part of last year’s tax deal.

Let’s look at some of the multi-billion deals we have seen so far this year:

Supply and demand

Big companies are opening their checkbooks in a big way right now, buying everything from marketing to analytics to security companies. They are grabbing open source and proprietary. They are looking at ways to bridge the cloud and on-prem. There is a whole host of software and not much rhyme or reason across the deals.

What they have in common is that they are enormous offers that are simply too huge to refuse. These companies flush with cash see opportunities to fill holes, and they are going for one piece after another.

One of the reasons the prices are going so high is that there is a limited number of companies available to buy, and that is driving up the price, says Ray Wang, founder and principal analyst at Constellation Research. As he sees it, there are only 3-5 decent players per category right now. He compares that with 10 years ago when we were seeing 10-15 players per category. With a limited number of viable startups, companies seem to be going after these companies harder. Combine that with fat wallets full of cash, and you suddenly have this wave of super-sized deals.

The companies being acquired by large organizations can justify selling in the usual ways. They can reward shareholders and investors. These larger organizations allow them to push their product roadmaps much more quickly than they could on their own. They give them access to international markets and mega sales teams.

Buy versus build

Still, companies have been spending unusually large sums for relatively small amounts of revenue. In deals over the last three weeks, we have seen IBM pay $34 billion for a company with around $3 billion in revenue. We saw SAP paying $8 billion for a mere $400 million in revenue.

This certainly seems on its face to be a massive overpay, but Constellation’s Wang says ultimately this often comes down to a classic build versus buy decision. SAP could build a similar product to Qualtrics, or they could simply buy it and put the massive SAP salesforce to bear on it. “SAP can sell into 100,000 customers. They only have a 10 percent overlap with Qualtrics. The numbers work, and it beats taking a new product to market,” Wang told TechCrunch.

Wang believes this could be the strategy behind many of these acquisitions, while admitting that the numbers sound a bit crazy. As he says, the formula used to be three times, three years trailing revenues. Now it’s 15-20 times. While those may be hard numbers to justify, he believes it’s a win-win for buyer and acquired — and investors win big too, of course.

Staying the course

In many instances like Red Hat, GitHub and Qualtrics, the companies will likely remain separate, independent units inside the larger organization, at least for the time being, while looking for meaningful crossover inside the larger company when it makes sense.

But Tony Byrne, founder and principal analyst at Real Story Group, says these large companies tend to listen to Wall Street, and customers should be wary of what they hear when it comes to their favorite products and services. “You cannot trust the initial pleasantries about continuity that come out of the first press release. These are huge vendors that listen first and foremost to Wall Street. If there’s an offering that doesn’t totally align with their story to investors, it is not going to get much love and is at risk for getting eliminated or calved off,” Byrne explained.

It’s also hard to know how well two companies are going to fit together until the deal actually closes. Sometimes the acquiring company doesn’t know what they have or how to sell it. Sometimes the two companies don’t fit well together or the founders or key executives don’t fit smoothly into the new hierarchy. They try to figure this all out beforehand, but it’s not always easy to know how it will play out in reality.

Regardless, we are seeing an unusually high level of massive acquisitions, and chances are, there are more coming.

Nov
12
2018
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Kofax to buy Nuance’s imaging division for $400M in cash

Some consolidation and subsequent divestment are in play in the worlds of imaging and voice recognition. Today, Kofax and Nuance announced that Kofax would be acquiring Nuance’s imaging division, for $400 million in cash. The deal, which had been rumoured in recent days, is expected to close in Q1 2019.

The acquisition is a notable move for Kofax — itself acquired by Thoma Bravo last year in a $1.5 billion deal — as it continues to build up its business in Robotic Process Automation (RPA), the area of enterprise IT services that uses machine learning, computer vision and other AI-based tools to bring automation to repetitive or mundane back-office tasks that would have in the past been done by humans. (The idea is that this frees up the humans to make more sophisticated assessments in specific cases, or focus on entirely different tasks.)

On the side of Nuance, the company is a leader in voice recognition services that served as an early partner to the likes of Apple with Siri, and has also worked on a number of other AI-based solutions to improve how enterprises build services and work.

Publicly traded Nuance’s imaging division accounted for about 11 percent of its revenues last year, and it has stated would be making several changes in its business to rationalise it and focus on more profitable operations. The biggest parts of its $5 billion business today are healthcare solutions, enterprise and automotive.

Kofax is bringing on Nuance Document Imaging, as the division is officially called, specifically to bring more services in the area of imaging services, which include services like providing security and compliance around any image scanning or printing that takes place across an organization. NDI, Kofax said, is one of the biggest companies of its kind in the field, covering 6 million knowledge workers and over 100,000 active deployments of its Print Management solutions.

“Through the acquisition of Nuance’s document imaging division, Kofax will drive customer value by adding key technologies, including cloud compatibility, scan-to-archive, scan-to-workflow, print management and document security, to our end-to-end Intelligent Automation platform,” said Reynolds C. Bish, Chief Executive Officer of Kofax. “In addition we will now be able to combine the best capture and print management capabilities available in the market into one product portfolio.”

Kofax said this makes it the leader in this area globally: and indeed it is racing to keep ahead of competition.

RPA has been one of the fastest-growing areas in IT, fueled by the rising interest in bringing more AI into enterprise services. UiPath, one of the leading startups in the space, has raised close to $400 million in two separate rounds this year on the back of its rapid growth. Just last week, UiPath just last week expanded its own imaging capabilities.

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