A digital technology services company has announced the acquisition of the entire issued share capital of GreenShoot Labs, a provider of enterprise digital solutions using AI.
This will be the fourth acquisition for The Panoply as it enters the AI and conversational interfaces market.
Greenshoot Labs co-founders Tim Deeson and Ronald Ashri lead the management team and are the principal sellers of GreenShoot Labs.
Ashri has a PhD in Computer Science (Artificial Intelligence), while Deeson previously had a profitable digital services business which was also acquired by The Panoply in December 2018.
The London-based company is the creator of OpenDialog, an open source ‘conversation management platform’ which integrates with Facebook Messenger, Amazon Alexa, and on-website chat boxes.
It recently created the first chatbot to support cybercrime victims, which is currently being tested by UK police forces.
The acquisition will be capped at a maximum of £7.35m.
“The acquisition of GreenShoot Labs enables The Panoply to solve another important element of the digital transformation puzzle and we are excited to see the company’s growth accelerate as part of the Group,” said Neal Gandhi, CEO of The Panoply and a serial tech entrepreneur.
GreenShoot Labs also recently received significant media coverage for their voice-enabled AI football coach, created to promote awareness of STEM careers amongst young people.
“Over a short period of time the team there have proven themselves a player to be reckoned with in their field, implementing projects for several blue-chip brands and garnering national acclaim with their AI football coach,” added Gandhi.