Tecnotree Advances to Acquire Top AIML Platform - CognitiveScale in North America to further Enhance 5G Use case Penetration
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 1 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.
CognitiveScale (CS) is United States based pioneer in the space of AI Engineering and provides solutions for scalable enterprise AI development and deployment. CognitiveScale is backed by over 100 granted AI patents and its award-winning Cortex Platform empowers businesses to infuse trusted decision intelligence into business processes and applications maximizing total customer experience and operational efficiency. The platform currently delivers hyper-personalized insights to more than 100 million customers across healthcare, realty, banking, insurance, and commerce verticals. CognitiveScale has also been recognized by World Economic Forum for positively impacting business and society through responsible AI and is backed by investment from Norwest Venture Partners, Intel Capital, IBM, Westly Group, M12 (Microsoft Ventures), Anthem, and USAA.
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 CS cortex platform and will deepen our current telecom use cases and further establish Tecnotree as a Digital Service Provider in the North American Market. CS comes with a rich set of customers in the Healthcare and Fintech verticals that will have a positive multiplier effect in our B2B2X ecosystem play. This transaction is aligned with our current global strategy and customers’ expectations.”
Matt Sanchez, Co-founder and Board Member, CognitiveScale stated, “CognitiveScale sees Tecnotree’s acquisition as a natural extension of market access in terms of global presence and adding Telecommunications as a vertical for new AIML models on the Cortex Platform. Given the market transformation that the telecommunications industry is witnessing today, we see this as a positive move to expand our horizons into new vertical monetization opportunities.”
Tecnotree continues to maintain the current guidance for 2022. Tecnotree expects that this transaction is likely to enhance ARR revenue by an additional 5M Euros in 2023. The parties expect to conclude the potential transaction within 2022 subject to completion of conditions precedent. Tecnotree will provide further information on the financial impact of this acquisition when providing 2023 guidance.
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 1 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
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
Contact Person: Padma Ravichander, CEO, Tecnotree
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
IFF Reports Fourth Quarter and Full Year 2022 Results9.2.2023 00:31:00 EET | Press release
International Flavors & Fragrances Inc. (NYSE: IFF) reported financial results for the fourth quarter and full year ended December 31, 2022. Management Commentary “IFF delivered solid financial results in 2022 in what continues to be a challenging operating environment,” said IFF CEO Frank Clyburn. “Throughout the year our team successfully executed on what we could control – pricing, productivity and portfolio optimization – to generate strong sales growth, enhance profitability and reduce our debt. At the same time, we introduced a refreshed growth-focused strategy, that deepens our commitment to customers, prioritizes our highest-return businesses, and expands productivity to drive long-term profitable growth. We are confident that these are the right strategies to navigate near-term challenges – as we balance growth, profitability and cash flow generation – and deliver long-term value creation for our shareholders.” Fourth Quarter 2022 Consolidated Financial Results Reported net sa
Global Partners Announce Innovations for Marine Managers to Help Our Oceans With Private Sector Support From Mary Kay Inc.8.2.2023 20:03:00 EET | Press release
Ocean conservation managers and practitioners, global experts, and high-level officials are convening for the Fifth International Marine Protected Area Congress (IMPAC5) from February 3-9 in Vancouver, Canada, to take a stand to protect the ocean. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230208005180/en/ MPAth, short for Marine Protected Area Tool Hub, is a free online resource for seascape stakeholders at every level. It uses the same problem-solving matrix honed by marine experts to guide users through a learning journey and help them address their most pressing challenges on sustainable livelihoods, financing, effectiveness, and climate change. (Credit: UN Environment Programme) IMPAC5 is known as the preeminent conference for the exchange of knowledge within the global community of marine conservation managers, practitioners, and decision makers. It provides the opportunity to highlight the latest science and share
Morgan Stanley Hosts First Global Demo Day for Startups in Inclusive Ventures Lab8.2.2023 18:23:00 EET | Press release
Morgan Stanley (NYSE: MS) today is hosting its first global in-person Demo Day, with 10 participating companies from the US and Europe, the Middle East and Africa (EMEA). The cohort companies, all founded by women, will pitch over 200 investors, as well as potential business partners and customers. Over the past five months, Morgan Stanley’s Inclusive Ventures Lab has supported its eighth cohort of technology-enabled startups in the post-seed to Series A funding round stage, offering an intensive accelerator program designed to provide a variety of mentorship opportunities and business-growth resources from across the Firm’s network. “We are on a mission to change the investing landscape for underrepresented founders. Through our accelerator program we are providing promising startups with much-needed capital, the broad resources of Morgan Stanley and access to investors,” said Selma Bueno, Managing Director and Global Head of the Inclusive Ventures Group. “Today’s Demo Day showcases i
Dawex, Fraunhofer ISST and TNO Agree to co-Propose a Pre-Standardization Program on Trusted Data Transaction8.2.2023 18:00:00 EET | Press release
The French data exchange tech company Dawex, the German research organization Fraunhofer ISST and the Dutch research organization TNO, today announced they have reached an agreement to co-propose a workshop program from the European Committee for Standardization (CEN) on Trusted Data Transaction, initiating a standardization process. To tackle economic, environmental and societal challenges, public and private organizations, large corporations and SMBs are taking full advantage of the explosion of data, and are increasingly distributing, accessing and sharing data within emerging data ecosystems. Data transactions are expected to grow exponentially in the coming years, requiring clear frameworks to organize, simplify, and secure the exchange of data, in compliance with regulatory requirements. Trust is a cornerstone of data exchange as it cements the relationship and drives collaboration between all parties involved in the data transactions. To better understand the scope and implicati
DEWA is the first utility in the world to enrich its services with ChatGPT technology8.2.2023 17:54:00 EET | Press release
HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA) announced that DEWA is working to enrich its services with ChatGPT technology supported by Microsoft. This will make DEWA the first utility globally and the first UAE government entity to use this new technology. This is part of DEWA’s continuous efforts to promote its leadership locally and globally. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230208005591/en/ DEWA is the first utility in the world to enrich its services with ChatGPT technology (Photo: AETOSWire) The announcement was made as HE Saeed Al Tayer received Naim Yazbeck, General Manager of Microsoft UAE. The move underlines DEWA’s pioneering successes in all digital areas and is a continuation of its use of Artificial Intelligence (AI), which started in 2017 by developing an AI roadmap. DEWA has already launched various services and initiatives that use AI to enrich the experi
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom