American-based workflow automation firm, Nintex, announced its acquisition of Israeli tech startup, Kyron, to enhance the intelligent process automation (IPA) capabilities of the Nintex Process Platform used by more than 10,000 organizations to mitigate enterprise-wide issues.
The terms of the deal have not been officially disclosed, but Calcalist reports Nintex paid around $100 million in the deal.
Kryon is Nintex’s third acquisition in 16 months after the company acquired K2 Software, Inc. in Oct. 2020 to deepen its digital process automation (DPA) capabilities and AssureSign in June 2021 to introduce native eSignatures to its platform.
Kryon’s process discovery technologies enable companies to automatically identify repetitive work processes, visually map main and variant paths of any given process, evaluate their suitability for automation, and instantly generate appropriate and efficient workflows.
Kyron is among the top leading providers of discovery and robotic process automation (DPA and RPA) technologies for Fortune 500 companies spanning across a variety of industry verticals including financial services, insurance, and telecommunications. Notable industry giants like AIG, Verizon, LTCG, and CP have all leveraged Kyron’s signature DPA and RPA solutions to upgrade their respective automatic digital processes to generate quick returns on investment, thereby saving time, cutting costs, and improving customer experiences.
“Our global team is thrilled to join forces with a market-leading software company like Nintex, which also has a strong reputation for being a great place to work in every region of the world,” said Kryon CEO, Harel Tayeb. “We are ready to quickly infuse our process discovery technology and the next generation of RPA into the Nintex platform to ensure organizations are realizing their fullest digital business potential with intelligent automation.”
“We are excited to welcome the Kryon team and look forward to offering Nintex customers and community members more advanced automation capabilities and automated process discovery technology within our platform,” said Nintex CEO Eric Johnson. “With Kryon’s innovative capabilities for RPA and process discovery, we are executing on our strategy to continually expand the breadth and depth of our process platform to ensure organizations in both the public and private sectors gain digital process competitive advantages.”