Deeptech company Qlik on Friday (January 19) said it has bought pivotal intellectual property (patents and technology) from Kyndi, an innovator in natural language processing, search, and generative AI.
However, the company did not disclose the financial terms of the deal.
Qlik said that this acquisition is aimed at supporting a transformative approach to how organisations interpret and process unstructured data. In line with this deal, Kyndi’s founder and CEO Ryan Welsh, along with the other leaders and AI experts will join Qlik.
Qlik further added that this development signifies substantial advancement in its vision of delivering precise, contextually-rich answers to complex business questions.
Qlik’s chief strategy officer James Fisher said, “The acquisition of Kyndi’s assets represents a key step in Qlik’s AI vision, supporting our ability to deliver rich, trusted answers from complex business questions.”
It ensures that Kyndi’s innovative unstructured data processing integrated with Qlik’s powerful structured analytics will unlock richer and more actionable insights for customers of both the companies, he added.
Founded in 2014 Kyndi offers generative AI-powered solutions which deliver context-driven information.
Meanwhile, Qlik was established in 1993 by Bjorn Berg and Staffan Gestrelius to offer data integration, quality, and analytics solutions leveraging contemporary technologies. It converts complex data landscapes into actionable insights, driving strategic business outcomes.
In an official statement, Qlik said that the acquisition leverages the combination of Qlik Cloud’s structured data mastery with Kyndi’s pioneering unstructured data technologies, reinforcing Qlik’s position as a transformative market leader in how organisations utilise data.
By leveraging Kyndi’s expertise, Qlik aims to unlock insights from customers’ ever-growing reservoirs of unstructured data and integrate these insights seamlessly with structured data analytics.
Addressing challenges in current answer engines, Kyndi’s expertise enables Qlik to offer innovative solutions for managing and curating answers, unlocking new use cases for decision-making from a vast spectrum of data sources.
The company claims that this will empower users with comprehensive, quality-assured insights, setting a new benchmark in the data analytics landscape.
“Introducing our innovations into Qlik’s technology will enable the merging of structured and unstructured data, thereby empowering users with deeper insights and more informed decisions across a wide range of business scenarios,” Welsh said.
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