IFP Portfolio Company Distil Networks recently acquired rival startup ScrapeSensory, which approached Distil’s business from an opposite angle: using humans to help customers understand bots rather than intelligent, automated algorithms. Distil acquired ScrapeSensory in a deal that included both cash and stock.
Distil CEO Rami Essaid sees the deal as a major win for the company. While it not only eliminated a competitor, it also allows the firm to expand its human services – a task that was previously time consuming for his engineers and data scientists. Describing the deal, Essaid noted that “Enterprise customers want an analyst they can work with to add a human element to everything we do. It just made sense to combine forces.”
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