Announced
Financials
Sources
Tags
Singapore
Domestic
Single Bidder
Pending
enterprise solutions
De-SPAC
Private
Merger
Friendly
Majority
Reverse Takeover
software development
Acquisition
Software
Synopsis
Avanseus, a technology and software innovator, agreed to go public via merger with Fat Projects Acquisition, a special purpose acquisition company, in a $136m deal. "As a first mover in the domain of predictive operations and maintenance powered through artificial intelligence, machine learning and cognitive computing, we have developed a software platform centered around Avanseus' patented, proprietary machine learning algorithms that are delivering high quality event predictions. Combined with our strong operationalization capabilities, we are supporting our customers in transitioning from reactive to AI-based predictive operations, resulting in tangible business benefits ranging from improved service levels, avoiding network downtime, to reduced cost of operations and higher reliability of their technology infrastructure," Bhargab Mitra, Avanseus CEO.
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