Automation Anywhere, a robotic-driven space has acquired Cathyos Labs, a product engineering startup in order to strengthen the former’s engineering team and help increase product development, support and delivery for customers, reported ET.
“There is growing customer demand for intelligent automation technology in India and across the broader region as organizations seek to improve productivity and lower operating costs,” said Prince Kohli, Chief Technology Officer, Automation Anywhere.
Post acquisition, Cathyos Labs’ engineers, including the co-founders will join Automation Anywhere’s product engineering team.
Automation Anywhere was founded in 2003 by Mihir Shukla, Ankur Kothari, Neeti Mehta, and Rushabh Parmani. It is robotic process automation (RPA) company, that uses its software product to deploy its software bots in the digital workforce to automate business processes.
The Bot Store opened by the startup, providing a marketplace for bot applications, has 65,000 users since launch, to help automate different processes.
The startup also provides other products like IQ Bot, a purpose-built cognitive automation that integrates with other AI solutions like IBM Watson, Bot Insight, a real-time operational and business analytics platform, and BotFarm, on-demand RPA solution for enterprises.
Automation Anywhere claims to have more than 1,400 enterprise customers across over 90 countries, with more than 800,000 digital workers deployed.
“We are eager to welcome the engineers from Cathyos Labs to add their expertise and support to our digital workforce platform, as well as our broader product development teams,” added Kohli.
“We have been working with Fortune 500 companies for some time to infuse innovation into product engineering and data engineering consultation and services,” said Kumar Saurabh Johny, Co-founder of Cathyos Labs.
“Automation Anywhere continues to rapidly expand our market share and product portfolio, which requires acquiring exceptionally talented people in the right geography,”’ said Peter Meechan, Chief Corporate Development Officer, Automation Anywhere.