Zurich/Franktown – Squirro acquires the American company Synaptica, which specializes in taxonomy. With this acquisition, Squirro aims to improve the accuracy of its artificial intelligence-based platform. This helps companies to gain insights from unstructured data.
The Zurich-based software service provider Squirro has acquired Synaptica from Franktown in the US state of Colorado. Synaptica specializes in solutions for taxonomy and knowledge graphs. Squirro helps companies to gain relevant insights from unstructured data. To this end, it offers tools supported by artificial intelligence (AI) for search queries, business insights and the automation of business processes.
With the acquisition, Synaptica's solutions will now be integrated into Squirro's platform. This will improve the accuracy and completeness of the Squirro offering, according to a press release. The classification of content, semantic search and the transparency of generative AI processes will also be improved.
"The field of generative AI is evolving at an unprecedented pace, and we are committed to providing a platform that enables our customers to stay ahead," David Hannibal, CPO and Head of Corporate Development at Squirro, is quoted as saying in the press release.
Synaptica co-founder Dave Clarke will reportedly join the Squirro leadership team as Executive Vice President, Semantic Graph Technology. ce/ww