Irish Buy Takes Quantexa into Text Analytics Market

British big data-based decision intelligence firm Quantexa has acquired Dublin's Aylien, which taps natural language processing to empower its customers to collect and analyze unstructured text data.

Headquartered in London, Quantexa was founded in 2016 and employs more than 550 people in offices in Europe, North America, Asia and Australia. The firm provides public and private sector clients with 'a contextual, connected view of internal and external data in a single place', helping to spot risks and opportunities and meet challenges including data management, customer intelligence and financial crime.

The acquisition is Quantexa's first since a $153m Series D funding in late 2021, and brings the firm into the text analytics market. Aylien, currently with around 30 team members, was founded in 2012 and its solutions include a News API for building intelligent applications with aggregated multi-lingual content from more than 80,000 online and off-line news sources; and an application for analysts to proactively identify and monitor news data to assess critical business risks and opportunities.

The firms say the combination will allow customers to create real-time and reliable streams of actionable insights across risk and compliance practices and identify new opportunities for growth; and to stay 'one step ahead of potential risks... across ESG, third-parties, reputational issues, and operations beyond compliance and controls'.

Quantexa CEO Vishal Marria (pictured) says of the deal, 'Aylien is a first-class organization with an impressive team that continues to push the boundaries of what is possible in NLP. Their unique approach and commitment to combining research and commercial software development has allowed Aylien to deliver significant value to their customers using AI to extract intelligence for critical decision making. Our organizations are strongly aligned when it comes to how we build our solutions and our cultural values'.

Aylien CEO Parsa Ghaffari adds: 'Quantexa is experiencing remarkable growth and I am confident that they will leverage Aylien's offerings and bring their benefits to new solutions and customers. We are excited about the expanding opportunities we will have as part of the Quantexa team'.

Quantexa, which also raised $64.7m in a Series C round in 2020, is online at www.quantexa.com .

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