SS&C Acquires Captricity
SS&C Technologies Holdings, Inc., announced it has entered into a definitive agreement to acquire Captricity, the maker of Vidado data transformation platform. The Oakland, California-based Captricity offers an enterprise-grade machine learning solution that enables fast, scalable and highly accurate extraction of handwritten and machine-printed data from paper documents.
The acquisition adds 30 full-time employees in Oakland, Boulder, Colorado, and New York City.
Regulated enterprises in the insurance, financial services, pharmaceutical and healthcare industries use Vidado technology to automate paper-to-digital data extraction as a component of their digital transformation. The SaaS machine learning solution enables enterprises to achieve significant cost savings and accelerate the automation of business processes.
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“The financial and healthcare industries are challenged by the abundance of manual paper-based transactions, often including significant amounts of handwritten data,” said Bill Stone, Chairman and CEO. “The addition of Vidado and Captricity’s team will complement SS&C’s business process outsourcing (BPO) services and our AWD business process management solution. We look forward to working with Vidado’s talented team to continue to deliver intelligent solutions.”
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“We are excited about the future of our product, people and customers. SS&C is a proven leader in enhancing enterprise operational processes,” said Nowell Outlaw, CEO of Captricity. “Together with SS&C, we will have a broader enterprise scope with more expertise and capacity to serve our clients, adding scale and global reach.”
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