China-based artificial intelligence (AI) firm Laiye has acquired Mindsay, a European chatbot and voicebot platform, the Beijing-based company announced Wednesday (April 13).
Terms of the deal were not disclosed, but the purchase of Mindsay and its conversational AI furthers Laiye’s goal of becoming a provider of next-generation intelligent automation software worldwide. Laiye said it also plans to open a research and development hub in Paris.
“Laiye and Mindsay were founded with the same vision to help companies transform digitally and become more effective, efficient, and successful,” Guanchun Wang, chairman and CEO of Laiye, said in a statement.
The acquisition follows Laiye’s $50 million investment in Europe, the Middle East and Africa. It also marks a milestone for the company’s mission to create a strategic intelligent automation solution.
The Intelligent Automation market is burgeoning, according to Connecticut-based research company Gartner. It predicted software tools such as AI, robotic process automation (RPA), identity provider and chatbots will become a nearly $46 billion sector by 2025.
Per Gartner, that growth is expected to be driven by organizations accelerating digital business plans to manage the impact of COVID-19.
“More companies have realized the vital role that chatbots, powered by conversational Al, play in enabling powerful self-service experiences, and Mindsay has been key in driving this space,” said Guillaume Laporte, CEO and co-founder of Mindsay.
In September, Laiye and KPMG China announced they had begun working on a new product to help boost intelligent automation for the finance industry.
Read more: Laiye, KPMG China Collaborate on Intelligent Automation
Laiye’s AI-powered RPA tech will be integrated with KPMG’s professional services, the company said, with a goal of empowering more businesses. The two companies have been partners since 2020.
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