On Saturday, 10th of December 2022 at 10:00 am EET, Tecnotree concluded the purchase of assets belonging to CognitiveScale (CS). The agreement covered the transfer of all CS Intellectual Property including its Truststar, Cortex, and Certfai platforms. Further, CognitiveScale Inc. has transferred all patents including 108 granted patents to Tecnotree.
What is the market offering of CognitiveScale?
The award-winning AIML platform empowers businesses by automating decision intelligence while delivering trust and governance capabilities to detect and mitigate business risks. Today the platform provides highly personalized insights to more than 100 million customers in the United States across healthcare, commerce, insurance, realty, and fintech verticals. This transaction is aligned with Tecnotree’s current global strategy and customers’ expectations.
The integration of the award-winning CS cortex AI/ML engineering capabilities into Tecnotree’s leading 5G multi-cloud enabled digital stack, will further enhance Tecnotree’s ability to provide intelligent and immersive customer experience journeys, intuitive and integrated catalogs and further enhance our customer’s abilities to monetize intelligence over the network.
This acquisition will allow Tecnotree to deliver an excellent experience for project MTNN-Metamorphose powered by Tecnotree (announced earlier this year) which requires AI-enabled customer segmentation, 360 customer journeys, and delivery of digital client delight.
What does the acquisition mean for Tecnotree?
Tecnotree’s foray into adjacent partner ecosystems and B2B2X marketplaces will be further enhanced by the predefined blueprints on the CS platform for the healthcare, banking, insurance, and commerce verticals, additionally extended with Telcom blueprints for AI.
Padma Ravichander, CEO, Tecnotree Oyj said, “This is a milestone for Tecnotree in multiple ways; For our customers, we are now in a position to strengthen their competitive advantage for 5G monetization and customer-centricity with AI-enabled telecom journeys.”
“For our partners we will add intelligence and advanced segmentation capabilities for better monetization. For our employees the opportunity to work in the most advanced digital technologies related to AIML, RPA, Trust, and Security is now globally materialized.”
“For our investors, this marks our entry into the North America with a concrete offering and sustainable revenue (as ARR) in essential digital services across healthcare, fintech, telecom, insurance, and realty,” he concluded. This acquisition elevates Tecnotree from a digital BSS platform provider to an AI-first total experience provider across physical and digital journeys.