Wayne-based cloud services company Evolve IP announced Tuesday it had made its 15th acquisition by snatching up Austin-based Jog.ai, makers of a speech analytics platform.
No financial details were made available about the deal, which the company called an “intellectual property acquisition” rather than an investment in personnel or a geographic expansion.
The company’s two cofounders, Sam Gaddis and Ed Ireson, will join Evolve IP’s workforce, which currently has 410 employees across the the U.S., Europe and the Middle East.
“[Jog.ai] is a premier natural language application that truly delivers great results,” said Evolve IP CTO Scott Kinka in a press release. The technology, he said, “is incredibly useful and user-friendly and we expect that we will see rapid adoption and significant market interest in the application.”
Kinka said the service, which links call audio and text transcription together, would add a layer of confidence for the company’s clients, especially those in compliance-heavy environments such as healthcare, finance and legal.
“Evolve IP’s significant base of accounts, partner community, and sales and marketing acumen will help us realize the growth goals we’ve had for Jog.ai since our start,” said Ireson. Additionally, with more software development resources at our disposal, there is much more that we can do to further develop the intellectual property and lead the market.”
Evolve IP says it has 1,900 enterprise clients, reaching some 420,000 users through its OneCloud platform, which includes cloud computing and cloud communications services — think IP phone systems, unified communications and collaboration platform, virtual desktops and other services.
In 2016, the company received a majority investment from Boston-based private equity firm Great Hill Partners that would allow it to expand organically and through acquisitions. Since then, the company has bought a handful of smaller companies in similar spaces, like New Jersey-based Clearlogin or Minnesota-based AiTech.
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