Abbyy, a Milpitas, CA-based provider of Digital IQ technologies and solutions, completed the acquisition of TimelinePI, a Philadelphia, PA-based developer of a comprehensive process intelligence platform designed to allow users to understand, monitor and optimize any business process.
The amount of the deal was not disclosed.
Abbyy will continue to market and enhance the TimelinePI platform and offer it to its thousands of customers globally, including healthcare providers, banks, insurance companies, government agencies and others. The solutions will be offered both separately and as part of new solution bundles as an extension of Abbyy’s current and future AI-enabling products.
TimelinePI co-founders Scott Opitz and Alex Elkin will join Abbyy’s management team and will continue to drive its process intelligence vision and business growth.
Led by Ulf Persson, CEO, Abbyy offers a complete range of AI-based technologies and solutions getting insight from business content and processes to financial services, insurance, transportation, healthcare, and other industries.
Its AI solutions enable customers to utilize a diverse range of advanced technologies, platforms and solutions for process analytics and intelligence, classification, text analytics, data and entity extraction, and data validation via any communication channel and in any format.
The company’s technologies are used and licensed by some of the largest international enterprises and government organizations, as well as SMBs and individuals. The company maintains offices in Australia, Cyprus, France, Germany, Hong Kong, Japan, Russia, Spain, Taiwan, the UK, Ukraine, and the United States.