Laiye, also called robotic process automation and AI (artificial intelligence) provider, has bought French AI tech startup company, Mindsay.
It was acquired to head the market shift to intelligent automation.
The acquisition comes following Laiye’s $50 million investment in Africa, Europe, and the Middle East.
The Laiye CEO, Ronen Lamdan, revealed that the acquisition would offer the firm’s clients a low-code, no-code, and powerful technology to automate back-office processes and customer service.
About Mindsay
Mindsay, founded in 2016, helps firms to offer easy and effective customer interactions via Conversational AI.
Mindsay’s voice bots and chatbots are utilized by top companies in the travel, retail, fintech, and hospitality industries.
For Laiye, the company was founded by CEO Guanchun Wang, Ji Gu, and Yichuan Hu in 2015. It’s a designed software that mimics human intelligence to assist organizations in functioning at new levels of efficiency and productivity.
Reacting to the acquisition, Guanchun Wang, the Laiye CEO, expressed, “Laiye and Mindsay were founded with the same vision to help companies transform digitally and become more effective, efficient, and successful. This acquisition comes on the heels of Laiye’s US$50 million investment in EMEA. It marks a significant milestone in our journey to create the most comprehensive Intelligent Automation solution, making it affordable and accessible to help businesses do better and be better.”
Meanwhile, the Intelligent Automation market has been burgeoning, with Gartner predicting process-agnostic software tools like IDP, AI, RPA, Chatbots, and Process Mining that support the market to reach about $46 billion by 2025.
This process is majorly driven by firms quickly accelerating digital business objectives to cope with the pandemic effect.
More so, Gartner predicts that digital workforces would force companies and businesses to speed up their digital transformation aims by a minimum of 5 years as a survival method to survive in a post-pandemic era.
In his revelations, Laiye CEO stated, “The acquisition of Mindsay gives our clients a powerful, low-code and no-code technology to automate customer service and back-office processes. Combine that with our robotic process automation offering to streamline repetitive workflows and a conversational interface that understands human language, and you have a cutting-edge platform to digitize and automate key parts of your business.”
“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. We are incredibly excited to join Laiye at this pivotal time. We are extremely impressed by the outstanding quality of Laiye’s teams and technology. Together we will be able to provide more value to our customers worldwide.” The Laiye CEO added.
Conclusively, it’s nice to see Mindsay and Laiye join forces. Laiye has developed into a world pioneer company that provides premium automation and AI products like RPA, conversational AI, and Intelligent Document Processing via a chatbot leader in the Chinese market.
The Mindsay acquisition will accelerate Laiye’s growth more to become the global head of Intelligent Automation.
Photo from Mindsay & Laiye