Tech giant Workday acquires AI company Sana from Sweden for over a billion dollars.
In a series of significant moves, two major companies have acquired AI startups based in Sweden and Switzerland, marking a trend of American tech giants investing in promising European startups.
Firstly, Workday, a California-based HR software company, has announced the acquisition of Sana, a Stockholm-based AI startup, for approximately $1.1 billion (€929 million). Sana specialises in developing a "Knowledge Assistant" that uses AI to index and make searchable company information. This strategic move by Workday aims to bolster its HR software offerings with advanced AI technology.
The valuation of Sana has more than doubled since its Series B round in October, reaching $1.1 billion. With this acquisition, Sana is no longer an independent entity, but a part of the Workday family.
Simultaneously, Teylor, a Swiss fintech, has acquired a majority stake in Capetec GmbH, a Düsseldorf-based company that develops SaaS solutions for automated SME lending. Capetec, which is known for its expertise in AI technology, was founded in 2024 by former managers of the former fintech market leader Compeon. The founder of Capetec GmbH is Daniel Goepfert.
Teylor's acquisition of Capetec is part of its pan-European consolidation strategy in the digital corporate financing market. This is the third transaction in 18 months for Teylor, following acquisitions of Creditshelf and the Grenke factoring business. Teylor aims to build the most powerful white-label SaaS platform for SME loans in Europe with this acquisition.
These acquisitions highlight the growing interest of major companies in AI technology and its potential to revolutionise various industries. The Exit Tracker for the Startup and VC Scene provides daily updates on significant exits, acquisitions, and IPOs, both domestically and internationally.
Moreover, Salesforce has also joined the bandwagon by acquiring Convergence, an AI startup, for $200 million. AMD has also recently acquired Silo AI for $665 million. These acquisitions underscore the importance of AI technology in the modern business landscape and the competitive edge it can provide.
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