Stamford-based Information Services Group acquires automation specialist
STAMFORD — IT research and consulting firm Information Services Group announced Thursday that it had acquired Neuralify, a Concord, Mass.-based company specializing in automation services.
Financial terms were not disclosed.
ISG officials said the acquisition expands the capabilities of the company’s automation business, which offers consulting, implementation and software services. Neuralify’s client base includes “blue-chip” companies, 40 of which had not been served by ISG Automation.
“The addition of Neuralify gives ISG Automation important new subscription-based platform capabilities that enable clients to quickly build and scale their bot workforces and reap tremendous cost, quality and customer experience benefits,” ISG CEO and Chairman Michael Connors said in a statement. “With little overlap in our respective client bases, we see a tremendous opportunity to serve an expanded set of blue-chip clients in the fast-moving RPA/automation environment.”
RPA refers to “robotic process automation” involving software bots. The technology automates functions such as extracting and sending out overdue invoices.
Founded in 2016, Neuralify’s platform is designed for remote learning and bot-building. It teaches those running business processes to create software bots, allowing companies to more quickly grow their automation programs.
“Neuralify’s applied learning model teaches technical and non-technical users, what we call ‘citizen developers,’ to build quality bots using real-world scenarios with instant grading and feedback,” Neuralify co-founder and CEO John Mone, who joins ISG Automation as a partner, said in a statement. “Our solution is proven to accelerate RPA adoption across our clients’ organizations. There is nothing like it on the market today.”
A team of 16 Neuralify employees will work remotely with ISG clients.
In the first quarter of this year, ISG’s revenues totaled about $64 million, down 2 percent from the same period in 2019. For the quarter, the company recorded a nearly $1.4 million loss, compared with a loss of $898,000 a year ago.
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Founded in 2006, ISG employs more than 1,300 people across more than 20 countries, serving a client base of more than 700 firms.
ISG is headquartered in Stamford’s South End, at 2187 Atlantic St., where about 30 employees work. It relocated there in 2018 from downtown offices at 281 Tresser Blvd.
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