London, UK-based provider of digital transformation solutions, Finmatix acquired a London, UK-based company which specializes in the provision of AI and machine learning-powered solutions to the Financial Services sector, Semantic Evolutions. The company announced the acquisition on May 25, 2023. However, it did not disclose the amount of the transaction.
As a part of the deal, Semantic Evolutions continues to operate under its own name as part of the Fimatix Group.
Purpose of acquisition by Finmatix
With the latest acquisition of Semantic Evolutions, Finmatix gets access to the former’s expertise and experience in delivering cutting-edge AI and machine learning-based products.
Semantic Evolution has built a strong reputation for extracting significant value from a range of unstructured data, utilizing AI and machine learning to dramatically optimize business processes, enhance customer experience, and significantly reduce costs.
As a part of the transaction, Gary Richardson intends to lead Semantic Evolution.
What the Finmatix official has to add
Tim Howarth, CEO of Fimatix, said, “We are thrilled to welcome Semantic Evolution to the Fimatix family. This acquisition is an important step in our growth strategy and will allow us to further expand our capabilities and offer a wider range of innovative AI and machine learning-based solutions to our clients. I’m also delighted to be working with Gary again as we look to enhance what we offer to all our clients and staff in the combined businesses. His leadership, expertise, as well as strategic vision will be instrumental in driving the continued success of our businesses and accelerating growth in the market. Bringing our digital and data capabilities together will allow us to offer sustainable change for our clients and exciting career paths for our staff.”
What the Semantic Evolution official has to comment
Gary Richardson, CEO of Semantic Evolution, further said, “We are excited to join forces with Fimatix. Our ability to leverage previously difficult-to-harness data will complement Fimatix’s existing products and services, and together we will deliver even greater value to our clients.”
About the company
Tim Howarth is the CEO of Finmatix, which launched in 2017. Fimatix is a provider of digital transformation solutions to enhance the productivity of businesses and governments. Major banks and e-money fintech challengers within the financial services sector, and digital transformation in the UK Government, such as the Home Office, HSBC, RBS, Ziglu and The Big Exchange, used the company’s offering.
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