ASX-listed software house LiveTiles has acquired US-based AI software company Hyperfish, adding its employee profile and directory management offering to LiveTiles’ workplace platform.
Hyperfish’s software makes use of AI and bot technology to identify missing or incorrect employee directory information and initiates a conversation with employees to collect and validate data.
The software automatically updates employee directory records within Microsoft Azure and Office 365, ensuring information is accurate and complete.
Hyperfish directors Brian Cook, a co-founder of Nintex, and former Microsoft executive Chris Johnson will both join LiveTiles to continue heading the business.
“Hyperfish has an incredibly talented team led by Brian Cook, a successful technology entrepreneur with a proven track record in building highly successful global businesses,” LiveTiles chief executive Karl Redenbach said.
“Hyperfish will enable us to extend the LiveTiles intelligent workplace platform to
deliver exciting new capabilities to current and future LiveTiles customers.”
The deal is worth up to $8.9 million if all earn-out conditions are satisfied, or the equivalent of 21.3 million LiveTiles shares. The base valuation is $3.66 million, or just under 9 million shares. The deal is expected to be completed in early June.
“Our combination with LiveTiles is a great opportunity to take the Hyperfish vision to the next level, and build a truly impactful and unique global software company,” Cook said.
In December, LiveTiles rolled out its Azure-powered 'no-code' bot builder through Microsoft’s major channels in the US. The bots automate HR-related questions and answers, linking to knowledge bases and scheduled meetings.
LiveTiles was a finalist in the CRN Impact Awards for its collaboration-building tools, receiving a commendation in the Exporting Innovation category.