Automation software giant UiPath has acquired SoftBank-backed data analytics startup Peak, as it looks to use the UK company’s tech to roll out a suite of AI agents.
Manchester-based Peak — which helps businesses develop AI workflows, process data, and provide predictions to optimise processes — will see its agentic tools form the “backbone” of UiPath’s AI agents for pricing and product inventory optimisation, the company said in a statement on Thursday.
“With the acquisition of Peak, we are accelerating our mission to strengthen our vertical AI solutions strategy,” said Daniel Dines, Founder and CEO of UiPath.
“When combined with the UiPath platform, Peak’s exceptional purpose-built AI applications will enhance our ability to provide solutions that optimise industry-specific use cases and deliver incredible value to customers.”
Founded in 2014, Peak raised $117m from investors including SoftBank, Octopus Ventures and Praetura. It was one of Manchester’s best-funded startups.
Publicly-listed UiPath’s core offering is robotic process automation (RPA), which businesses use to automate processes including accounting, human resources and customer service.
It employs 4,000 people and serves some 10k business customers including British Airways, Canon, EY and Uber.
The US company was founded in Romania in 2005 and raised $2bn, according to Dealroom, before listing on the New York Stock Exchange in 2021.
Dines told Sifted in December that the company was investing heavily in building out its agentic offering.
Read the orginal article: https://sifted.eu/articles/uipath-acquires-softbank-backed-peak-news/
