Datametrex to Buy Text Analytics Firm Semeon

Artificial intelligence and machine learning specialist Datametrex is to acquire AI-powered platform Semeon Analytics, which focuses on voice of the customer (VoC) response. The purchase price is $3m in cash and shares.

Montreal-based Semeon combines semantic analysis with sentiment and intent analysis. According to Datametrex the buy creates synergies with its portfolio company Nexalogy, in the form of cross-selling opportunities, cost savings and talent. In addition to the purchase price, Semeon shareholders will be entitled to receive an aggregate earn-out bonus payment of up to $1.75m, based on performance milestones for the next three years after closing.

Andrew Ryu (pictured), CEO and Chairman of Datametrex, comments: 'We have been looking for an AI and machine learning company that would complement Nexalogy and diversify the company's revenue stream. Semeon has a very powerful AI, analytics, and reporting platform that focuses on structured data providing its clients with precise voice of customer analytics. Semeon will provide Datametrex an additional platform to sell to our clients'.

Web sites: www.semeon.com , www.datametrex.com and www.nexalogy.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.