Augury Acquires Process-Based Ai Company Seebo, Targets $1 Trillion In Untapped Capacity For Manufacturers And Industry

May 10, 2022•over 3 years ago

Acquiring Company

Augury

Acquired Company

Seebo

New YorkSoftwareManufacturingArtificial IntelligenceScience And EngineeringSoftware

Description

Augury, the leading provider of IoT and Industrial AI solutions that improve health and reliability of machines for manufacturing and industry, today announced it has signed a definitive agreement to acquire Seebo, a leader in AI-based process intelligence. The deal is a combination of cash and stock and is valued between $100 million and $200 million.

Company Information

Company

Augury

Location

New York, New York, United States

About

Augury is a leader in Machine Health and Process Health solutions. The company uses purpose-built AI technology, trained by industry experts and a large data library, to help manufacturing and industrial companies eliminate production downtime, improve process efficiency, maximize yield, and reduce waste and emissions.

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Based on deal data

Integration timeline

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Tech stack consolidation

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Post-acquisition investment

Companies increase IT spending by 23% on average after acquisitions

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