Microsoft Is in Talks to Buy Startup Softomotive :
5,030  members and growing...
  
  • pic1
  • pic2
  • pic3
  • pic4
  • pic4
  • pic4
  • pic4
  • pic4
   
News

Microsoft Is in Talks to Buy Startup Softomotive :

.


Microsoft Corp. is in talks to buy Softomotive Ltd., a U.K.-based startup that makes software robots to automate tasks, according to people familiar with the matter.

If talks are successful, a deal could be announced as soon as the coming weeks, said the people, asking not to be identified because the matter isn’t public. No final decision has been made and talks could still fall apart, they said.

The terms of the deal being discussed couldn’t immediately be learned. Softomotive raised $25 million in 2018 from London-based investment firm Grafton Capital.

Representatives for Microsoft and Softomotive declined to comment.

Softomotive specializes in robot process automation technology, or software that helps companies save time and money by automating repetitive, manual tasks such as entering data into spreadsheets. The company’s products are used in the health-care, banking, insurance and telecommunications industries, according to its website.

It competes with startups such as Automation Anywhere Inc. and UiPath, which was most recently valued at $7 billion and has been eyeing an initial public offering, Bloomberg News previously reported.

The data is compiled from : https://www.bloomberg.com



For More Details, Please Read: https://www.bloomberg.com/amp/news/articles/2020-05-01/microsoft-is-said-to-be-in-talks-to-buy-startup-softomotive