For the third time in recent weeks, a robotic process automation (RPA)-focused technology company has been acquired. This time the deal involves Information Services Group (ISG) buying Neuralify, Financial terms were not disclosed.
This is M&A deal 276 that ChannelE2E has covered so far in 2020. See the complete M&A deal list here.
Neuralify offers a cloud-based learning platform that allows users to more quickly master RPA development skills. Neuralify's platform could be a valuable tool for MSPs and VARs that are seeking to understand potential RPA opportunities -- especially in terms of IT service management (ITSM) and help desk automation, ChannelE2E believes.
ISG Acquires Neuralify: RPA Opportunity, Market Growth
ISG will align Neuralify with the ISG Automation business -- which offers consulting, implementation and software services. ISG Automation partners with many of the leading RPA software providers -- including Automation Anywhere, Blue Prism, NICE and UiPath.
The ISG-Neuralify deal arrives the same week that IBM acquired RPA software provider WDG Automation, and less than two months after Microsoft confirmed the Softomotive RPA acquisition.
What's driving the M&A feeding frenzy? The answer involves a massive race to automate millions of manual business and technology tasks. Indeed, the global robotic process automation market is expected to reach $10.7 billion by 2027, expanding at a CAGR (compound annual growth rate) of 33.6% from 2020 to 2027, according to Grand View Research Inc.
ISG Acquires Neuralify: Executive Perspectives
In a prepared statement about the deal, Michael P. Connors, chairman and CEO of ISG, said:
“The addition of Neuralify gives ISG Automation important new subscription-based platform capabilities that enable clients to quickly build and scale their bot workforces and reap tremendous cost, quality and customer experience benefits. With little overlap in our respective client bases, we see a tremendous opportunity to serve an expanded set of blue-chip clients in the fast-moving RPA/automation environment.”
Added Chip Wagner, CEO of ISG Automation:
“One of the greatest impediments to automation success is an organization’s inability to scale its automation program beyond the pilot stage. Fewer than 10 percent of enterprises are at the Bot 3.0 stage, having expanded RPA to multiple functions across the enterprise and using cognitive technology. The Neuralify platform provides an innovative enablement solution to quickly accelerate RPA adoption.”
Concluded John Mone, CEO and co-founder of Neuralify, which shifts to partner at ISG Automation:
“Neuralify’s applied learning model teaches technical and non-technical users, what we call ‘citizen developers,’ to build quality bots using real-world scenarios with instant grading and feedback. Our solution is proven to accelerate RPA adoption across our clients’ organizations. There is nothing like it on the market today.”