Mergers and Acquisitions, Mergers and Acquisitions

Keystone Capital Invests In UiPath, Automation Anywhere Partner Novatio Solutions

Credit: Getty Images

Credit: Getty Images

Keystone Capital Management, L.P. is investing in hyperautomation consultancy Novatio Solutions. Financial terms of the investment were not disclosed.

This is technology M&A deal number 764 that ChannelE2E has covered so far in 2022. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.

Keystone Capital Invests in RPA Solutions Provider Novatio Solutions

Novatio, founded in 2014, is based in Orlando, Florida. The company has 58 employees listed on LinkedIn. Novatio’s areas of expertise include robotic process automation (RPA), digital workforce solutions, artificial intelligence, efficiency, business process automation and productivity. Novatio has deep expertise in automation strategy, software implementation and ongoing support of automation programs. Novatio primarily works in partnership with UiPath and Automation Anywhere, the leading robotic process automation (RPA) and intelligent automation software platforms, the company said.

Keystone Capital, founded in 1994, is based in Chicago, Illinois. The company has 24 employees listed on LinkedIn. Keystone’s areas of expertise include private equity.

Gokul Solai, CEO, Novatio Solutions
Gokul Solai, CEO, Novatio Solutions
Bill Sommerschield, managing director at Keystone Capital

Gokul Solai, CEO of Novatio, commented on the news:

“We are delighted to partner with a patient and experienced investor in Keystone Capital to help build on the success Novatio has enjoyed to date. Intelligent automation is still in its infancy and this partnership is an important step to ensure we will continue to be at the forefront of the industry. We look forward to continuing to develop new and exciting solutions to expand the impact that process consulting and automation can have within our client partners’ organizations.”

Bill Sommerschield, managing director at Keystone Capital, added:

“Novatio is exceptionally well-positioned to capitalize on the significant opportunity in the intelligent automation industry. We are thrilled to partner with Gokul and his team to collaboratively build a preeminent service provider in this dynamic and fast-growing marketplace.”

What is Robotic Process Automation?

RPA software allows businesses to write code and bots that rapidly automate manual tasks across multiple departments — from IT service desks to HR, finance, customer support and more. The fast-growing market segment is generating strong M&A activity. An expansive RPA M&A list is available here.

The market growth is largely being spurred on by customer demand. The global RPA software market is expected to reach $13.74 billion by 2028, up from $1.57 billion in 2020. The market’s compound annual growth rate from 2021 to 2028 is expected to be 32.8%, Grand View Research predicts.

Sharon Florentine

Sharon is a master technology storyteller and editor with omnichannel experience: books and print magazines, digital, webcast, blogging, podcast, live events and video and associated brand-specific social media content. From 1999 to 2003, she acquired and edited technology books and certification exam prep guides.

After a year spent in publicity and editorial at mass-market book publishers, she returned to tech publishing and, since 2004, explored B2C and B2B news, issues and trends in consumer, lifestyle, software, software development, AI, ML, networks, big data, hardware, security, storage, cloud, equity, inclusion, diversity, women in tech, career development, IT management, H-1B visa issues and immigration, education, training and learning.

Her previous role was as the managing editor at Techstrong Group in charge of Cloud Native Now, DevOps.com, Security Boulevard and Techstrong ITSM and their brand-specific social media. She currently serves as editorial director for CyberRisk Alliance’s channel brands, ChannelE2E and MSSP Alert and acting editorial director for SC Media UK. Drop me a note and let’s talk!

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