Expert System Becomes Leading Provider of Semantic Technology for Cognitive Computing with Acquisition of TEMIS
Strength of Combined Technologies, Customers and Management Teams to Support Company’s Aggressive Strategy of Growth and Internationalization
Expert System (EXSY.MI), the leader in semantic technology for the effective management of unstructured information, today announced that it has signed a binding agreement to acquire TEMIS, a leader in text analytics solutions with offices in France, Germany, the UK, the US and Canada. With the acquisition of TEMIS, Expert System will become the leading global provider of semantic technology for cognitive computing.
It is estimated that more than 85% of all relevant business information is contained in presentations, reports, documents, emails, and also posts and comments on web pages. Organizations increasingly need more intelligent solutions that allow them to fully exploit the potential of Big Data that contains both structured and unstructured information, to obtain real-time insights needed for better decision making in areas such as operational risks, security, reputation management, and customer service.
“Today, intelligent solutions for information management are an absolute necessity. Combining Expert System’s Cogito® with TEMIS’ Luxid® platform we will not only strengthen our offering, but it will also position us as a trusted global player having the world class technology that can help companies scale to exploit the unlimited wealth of available data to maintain a competitive advantage and provide better customer service,” said Stefano Spaggiari, CEO, Expert System. “With the acquisition of TEMIS, we now have incredible expertise and resources for the development of semantic technology based on artificial intelligence algorithms. With revenue greater than $20 million, Expert System has performed well and has doubled the size of its business since its listing on the AIM Italia stock exchange just 15 months ago. The added strength of the TEMIS management team, technology and customer base will further ensure positive performance levels in the future.”
The acquisition of TEMIS supports Expert System’s strategy for growth and internationalization, and also consolidates the companies’ excellence in the cognitive computing market, which makes technology more intelligent and better able to help companies and public organizations develop the capacity to analyze, correlate and exploit the wealth of knowledge available to them, especially that in the form of unstructured information.
“TEMIS’s vision has been to enable organizations to efficiently exploit their unstructured content,” said Eric Bregand, CEO of TEMIS. “Expert System shares the same ambition, so joining forces will enable us to leverage tremendous technological complementarity and geographical scale to ultimately accelerate our ability to deliver on this common vision.”
Expert System has created an innovative way for accessing information, based on sophisticated cognitive algorithms of artificial intelligence. From a technology point of view, the acquisition of TEMIS is a great opportunity to confirm the advantages of semantic intelligence and is in line with the company’s commitment to R&D, and the ongoing process of strengthening the patented Cogito® platform. The acquisition also extends Expert System’s geographical coverage and enhances the growth of the various company locations including Italy, France, Spain, Germany, Great Britain, the United States and Canada.