With the acquisition of the Intelligent Document Processing (IDP) vendor, the London Stock Exchange listed company adds another software company (Celaton becomes part of a larger group along with four other software companies acquired by ADVT in July 2023) to accelerate its solutions offering to continue to gain competitive advantage in the digital transformation space.
Celaton, an Intelligent Document Processing (IDP) vendor, announced May 7 that it has been acquired by software solutions provider AdvancedAdvT (ADVT). ADVT has agreed to acquire the IDP vendor for cash consideration of £5.0 million net of cash acquired of £1.5 million (cash as at April 30, 2024). Completion of the acquisition is subject to the approval of the National Security and Investment Act.
The London Stock Exchange listed company ADVT, an acquisition vehicle who focuses on mid-cap acquisition opportunities in the software sector, is led by British businesswoman and one of Celaton’s investors, Vin Murria. According to the IDP vendor, all employees will remain in their positions when the company is transferred to the new owners.
Jim Chase, Executive Chairman at Celaton, commented on the acquisition: “Celaton naturally aligns with ADVT’s focus of empowering customers by streamlining complexities, automating repetitive tasks, and ultimately enhancing productivity, compliance, and engagement.” He continued: “This transaction is a great opportunity for our customers and our team alike. We will have access to more investment as well as a larger pool of digital transformation expertise across the wider group.”
In recent years, Celaton has been recognized several times by several analyst firms, including in the 2022 IDP Market Scan by HFS Research and in the IDP Products PEAK Matrix® Assessment 2023 and Unstructured Document Processing Products PEAK Matrix® Assessment 2023 by Everest Group (both as ‘Aspirant’).
Headquartered in London, Celaton applies its Intelligent Process Automation (IPA) technology, inSTREAM, to deliver Intelligent Document Processing (IDP) resulting in efficiencies and reduction in Average Handling Times (AHT) within processes. Unlike traditional Robotic Process Automation (RPA) which automates tasks within a process, inSTREAM delivers automation to the end-to-end process.
You can find the full press release here and further details on the acquisition here.
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