US process intelligence and automation company Nintex has announced the acquisition of Israeli AI automation company Kryon Systems. No financial details were disclosed but market sources estimate that Nintex is paying about $75 million for Kryon, which has raised $77 million since it was founded in 2008.
Kryon has developed a process discovery and robotic process automation (RPA) platform and Nintex said that this will extend the intelligent process automation (IPA) capabilities of the Nintex Process Platform.
Nintex CEO Eric Johnson said, "With Kryon’s innovative capabilities for RPA and process discovery, we are executing on our strategy to continually expand the breadth and depth of our process platform to ensure organizations in both the public and private sectors gain digital process competitive advantages."
Kryon CEO Harel Tayeb added, "We are ready to quickly infuse our process discovery technology and the next generation of RPA into the Nintex platform to ensure organizations are realizing their fullest digital business potential with intelligent automation."
Kryon has 140 employees including 80 in Israel. The company serves Fortune 500 companies in financial services, insurance and telecommunications including AIG, Verizon, LTCG, and CP.
Published by Globes, Israel business news - en.globes.co.il - on February 15, 2022.
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