AUSTIN, Texas, Dec. 13, 2022 (GLOBE NEWSWIRE) -- CognitiveScale, the company leading AI engineering and hyper-personalization, announced today that it has completed its acquisition through an asset purchase agreement by Tecnotree, a market leader in 5G digital Business Support Systems (BSS) that has a global footprint with over 90 telecom customers in 70 countries around the world and supports ecosystems comprising over one billion subscribers.
CognitiveScale offers a market-leading AI engineering platform which is backed by more than 108 patents and enables AI-powered personalization solutions across the customer journey. Enterprises use CognitiveScale to improve the experience of the customer through their entire journey by injecting personalized, predictive, prescriptive and actionable insights across all digital channels.
Tecnotree is a market leader in 5G digital Business Support Systems (BSS), with AI/ML capabilities and multi-cloud extensibility. Tecnotree's global footprint with over 90 telecom customers in 70 countries around the world supports ecosystems of over one billion subscribers. Tecnotree is the first Digital Platform Service provider to be Platinum Badge Certified by TM Forum for Real World Open API standards. The company also provides B2B2X partner ecosystem and fintech services for monetization beyond connectivity across gaming, healthcare, education, and banking. Tecnotree has been recognized by Gartner for revenue management and monetization as well as for customer experience management solutions and enjoys the position of a leading stock on the Helsinki Nasdaq since 2020.
Bob Picciano, CEO of CognitiveScale, stated, "This acquisition by Tecnotree is an exciting extension of our mission to serve new industries and markets globally with our Cortex AI platform. We are thrilled that CognitiveScale Cortex can carry on and serve as the anchor for Tecnotree's North America presence. The power of AI to drive intelligent use cases on top of Tecnotree's digital platform is a game changer that will deliver a personalized marketplace of applications and services for consumers in all industries."
Padma Ravichander, CEO of Tecnotree Corporation, stated, "Tecnotree's long-term goal is to deliver intelligent insights that will accelerate 5G monetization and total experience capabilities for its customers globally. This goal is now actualized via the CognitiveScale Cortex platform and will deepen our current telecom use cases and further establish Tecnotree as a Digital Service Provider in the North American market. CognitiveScale comes with a rich set of customers in the Healthcare and Fintech verticals that will have a positive multiplier effect on our B2B2X ecosystem play. This transaction is aligned to our current global strategy and customers' expectations. "
About CognitiveScale
CognitiveScale pioneered the concept of "AI Engineering," paving the way to industrialize scalable Enterprise AI development and deployment. Backed by over 110 patents, the award-winning Cortex platform empowers businesses to infuse trusted decision intelligence into business processes and applications maximizing total customer experience and operational efficiency. Our focus is on large and complex industries such as Healthcare and Financial Services where our platform currently delivers hyper-personalized insights to more than 100 million customers.
Headquartered in Austin, Texas, CognitiveScale is recognized by the World Economic Forum for positively impacting business and society through responsible AI. We are backed by investment from Norwest Venture Partners, Intel Capital, IBM, Westly Group, M12 (Microsoft Ventures), Anthem and USAA. To learn more, visit www.cognitivescale.com and follow us on LinkedIn and Twitter at @CognitiveScale.
About Tecnotree
Tecnotree is a 5G-ready digital Business Support System (BSS) player, with AI/ML capabilities and multi-cloud extensibility. Tecnotree is the first company in the world to be Platinum Certified by TM Forum Open API standards, and our agile and open-source Digital BSS Stack comprises the full range (order-to-cash) of business processes and subscription management for telecom and other digital services industries creating opportunities beyond connectivity. Tecnotree also provides Fintech and B2B2X multi-experience digital marketplace to its subscriber base through the Tecnotree Moments platform to empower digitally connected communities across gaming, health, education, OTT, and other vertical ecosystems. Tecnotree digital platform products and services today serve over one billion subscribers globally in over 70 countries. Tecnotree is listed on Helsinki Nasdaq (TEM1V). For more information, please visit our website www.tecnotree.com or social media channels — LinkedIn I Facebook I Twitter.
Media Contact
Megan Leetch, CogntiveScale
mleetch@cognitivescale.com
Contact Information:
Megan Leetch
mleetch@cognitivescale.com
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