iCONECT acquires Ayfie Inspector Artificial Intelligence Codebase ‘Gold Copy’
Summary
iCONECT Worldwide Inc., a privately-held leader in legal technology and eDiscovery, today announced that effective immediately, they have reached an agreement with Ayfie Group AS of Oslo, Norway to acquire a ‘gold copy’ of the highly regarded Ayfie Inspector artificial intelligence codebase including all subcomponents and patent licenses in perpetuity for an undisclosed sum. The algorithms build those patterns against unstructured and structured data and then use artificial intelligence to identify and group conceptually similar content, create email conversation threads and extract people, places, things, and personally identifiable information (PII). The iCONECT platform integrates the technology into any eDiscovery workflow including analysis, review, governance, breach, DSAR and GDPR. “Direct access to the source code enhances our ability to create innovative synergies which include artificial intelligence assisting companies to incorporate AI as a standard component of their eDiscovery workflow.” States Ian Campbell, CEO of iCONECT. “At iCONECT we are always focused on looking over the horizon and this transaction is definitely a game-changer for the industry.” “As a publicly traded entity on the Euronext Growth Oslo, (AYFIE (NOK)) this divestiture of the Inspector business stream allows us to focus business technology resources on our Locator platform, specifically opportunities in the European market,” says Lasse Ruud, CMO/ IRO of Ayfie Group AS.
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