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Beyond Limits Announces Acquisition Of Altec

Mar 02, 2022•almost 4 years ago

Acquiring Company

Beyond Limits Asia-Pacific

Acquired Company

Altec

Artificial IntelligenceScience And EngineeringDesignData And AnalyticsSoftwareData And AnalyticsInformation TechnologySoftware

Description

Beyond Limits, an industrial and enterprise-grade AI software company built for the most demanding sectors, today announced the company’s acquisition of Altec Products, Inc. (Altec), a leading provider of integrated document management and workflow solutions. The addition of Altec to Beyond Limits will enable accelerated product growth and drive digital transformation in new markets, furthering Beyond Limits’ mission to create world-class solutions for businesses that improve performance and enhance human decision-making.

Company Information

Company

Beyond Limits Asia-Pacific

About

Beyond Limits is an enterprise-scale AI company that optimizes operations, boosts efficiency, and increases productivity for demanding industries including energy, utilities, and healthcare. Beyond traditional artificial intelligence, our software products are powered by Beyond Limits’ award-winning Cognitive AI technology, utilizing a hybrid AI approach that combines data-centric techniques with embedded human knowledge to affirm trust in software-driven decisions, manage operational risk, and drive profitability. Founded in 2014, Beyond Limits leverages a significant investment portfolio of advanced technology developed at Caltech’s Jet Propulsion Laboratory for NASA space missions. The company was recently honored by Frost & Sullivan as a Company of the Year for their 2021 Best Practices Award and by CB Insights on their 2020 List of Top 100 Most Innovative Artificial Intelligence Startups. For more information, please visit www.beyond.ai.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed