SoundHound AI Acquires Enterprise Conversational AI Provider Amelia For $80M, Expands Into New Verticals
Portfolio Pulse from Stjepan Kalinic
SoundHound AI (NASDAQ:SOUN) has acquired Amelia, an enterprise AI software company, for $80 million. This acquisition expands SoundHound's reach into new verticals such as healthcare, financial services, and retail, and brings new partnerships and cross-selling opportunities. Amelia, backed by BuildGroup and Monroe Capital (NASDAQ:MRCC), will now enter the publicly accessible market. The combined company is expected to generate $150 million in revenue by 2025.
August 08, 2024 | 1:00 pm
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Monroe Capital, a strategic investor in Amelia, will see its portfolio company enter the publicly accessible market following the acquisition by SoundHound AI.
Monroe Capital's investment in Amelia will now be part of a publicly traded entity, potentially increasing the value of its investment. This could have a positive short-term impact on Monroe Capital's stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
SoundHound AI has acquired Amelia for $80 million, expanding its reach into new verticals and enhancing its AI customer support solutions. The combined company is expected to generate $150 million in revenue by 2025.
The acquisition of Amelia significantly enhances SoundHound's capabilities and market reach, particularly in high-growth sectors like healthcare and financial services. This is likely to positively impact SoundHound's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100