Merger & Acquisition

Softbank-backed Automation Anywhere Acquires Klevops of Paris

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Automation Anywhere, a provider of robotic process automation (RPA), on Friday said it has acquired Paris-based Klevops. The company however, didn’t disclose the deal amount. RPA technology refers to the use of software robots (bots) to automate business processes that are currently managed manually by human workers.

Last November, Automation Anywhere had raised $300 million from the SoftBank’s tech-focused Vision Fund bringing the company’s valuation to $2.6 billion. Besides, SoftBank, Automation Anywhere counts New Enterprise Associates (NEA) and Goldman Sachs Growth Equity, as its investors, had raised well over USD 500 million (over Rs 3,450 crore).

“With the acquisition, Automation Anywhere fast forwards the RPA category to Attended Automation 2.0, where managers can easily orchestrate workstreams across a team of employees and bots, driving a higher level of employee productivity and improved customer experience,” a statement said.

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The acquired technology from Klevops will alter the dynamics between attended and unattended automation, making it a foundational solution for companies scaling their automation initiatives across all industries, Automation Anywhere Chief Technology Officer Prince Kohli said.

He added that this is especially relevant to contact centre-intensive industries like banking, financial services and telecommunications.

“As the demand for RPA continues to increase across multiple industries, acquisitions like this one will be part of Automation Anywhere’s growth strategy as we continue to help solve customer pain points and automate a greater number of business processes,” Automation Anywhere Chief Corporate Development Officer Peter Meechan said.

The combined solution of Klevops and Automation Anywhere’s attended automation creates the industry’s first capability to enable bots driving actions with multiple human teams to coordinate their activities, he added.

Automation Anywhere was originally founded as Tethys Solutions, LLC in San Jose, California by Ankur Kothari, Mihir Shukla, Neeti Mehta, and Rushabh Parmani. The company re-branded to Automation Anywhere, Inc. in 2010.

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Suman Chaudhary
An engineer by education and writer by profession, Suman keeps tab on startup ecosystem of India and leads the research team of IndiaWeb2 for covering funding deals, merger & acquisition and market reports.

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