Tecnotree Advances to Acquire Top AIML Platform – CognitiveScale in North America to further Enhance 5G Use case Penetration

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ESPOO, Finland – 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 with over 1 billion subscribers. Tecnotree is the first digital platform service provider to be certified with the Platinum Badge by the TM Forum for Real-World Open API standards. The company also provides B2B2X partner ecosystems and fintech services for monetization beyond connectivity in gaming, healthcare, education and banking. Recognized by Gartner for revenue management and monetization and customer experience management solutions, Tecnotree has enjoyed a leading share position on the Helsinki Nasdaq since 2020.

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CognitiveScale (CS) is a US-based AI engineering pioneer, providing solutions for the development and deployment of scalable enterprise AI. Backed by over 100 issued AI patents, CognitiveScale and its award-winning Cortex platform enable organizations to infuse trusted decision intelligence into business processes and applications to maximize the overall customer experience and operational efficiencies. The platform currently delivers hyper-personalized insights to more than 100 million customers in the healthcare, real estate, banking, insurance and retail sectors. CognitiveScale has also been recognized by the World Economic Forum for its positive impact on business and society through responsible AI and is supported by investments from Norwest Venture Partners, Intel Capital, IBM, Westly Group, M12 (Microsoft Ventures), Anthem and USAA.

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Padma Ravichander, CEO of Tecnotree Corporation, stated, “Tecnotree’s long-term goal is to deliver intelligent insights that will accelerate 5G monetization and rich experience opportunities for its customers worldwide. This goal is now being realized 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 has a variety of clients in the healthcare and fintech industries that will have a positive multiplier effect in our B2B2X ecosystem. This transaction is in line with our current global strategy and the expectations of our customers.”

Matt Sanchez, Co-Founder and Board Member of CognitiveScale, stated, “CognitiveScale sees the acquisition of Tecnotree as a natural expansion of market access in terms of global footprint and the addition of telecom as a vertical for new AIML models on the Cortex platform. Given the market transformation the telecom industry is experiencing today, we see this as a positive step to broaden our horizons towards new vertical monetization opportunities.”

Tecnotree continues to stick to the current forecast for 2022. Tecnotree believes this transaction is expected to add an additional €5m to ARR revenue in 2023. The parties expect to close the potential transaction within 2022, subject to the satisfaction of the conditions precedent. Tecnotree will provide more information on the financial impact of this acquisition in its 2023 guidance.

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ABOUT TECNOTREE

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 certified Platinum by TM Forum Open API standards, and our agile and open-source digital BSS stack spans the full range (order-to-cash) of business processes and subscription management for telecom and other industries for digital services create opportunities that go beyond connectivity. Tecnotree also offers its subscriber base a multi-experience fintech and B2B2X digital marketplace through the Tecnotree Moments platform to empower digitally connected communities in gaming, healthcare, education, OTT and other vertical ecosystems. Tecnotree’s digital platform products and services today serve over 1 billion subscribers in over 70 countries worldwide. Tecnotree is listed on the Helsinki Nasdaq (TEM1V). For more information, visit our website www.tecnotree.com or social media channels – Linkedin I Facebook I Twitter

View source version on businesswire.com: https://www.businesswire.com/news/home/20221209005177/en/

contacts

Contact person: Padma Ravichander, CEO, Tecnotree
Email: [email protected]

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