Government advisory firm Sapio Analytics has acquired KGS Microsystems LLP, a player in the archival digitization industry, for an undisclosed sum.
Founded by Kishor Gulgule, a veteran imaging professional, and A Parvez Banatwala, a technology entrepreneur, KGS Microsystems LLP has active contracts worth around $1 million and a pipeline of around $20 million, being in the process of digitizing hundreds of millions of images.
The acquisition by Sapio Analytics, positioned as the artificially intelligent government support system for developing countries, shall be done under a conditional term sheet, where Banatwala shall actively lead the smart digitization practice of the entity.
“The anonymized intelligence-driven out of the digitization by KGS Microsystems LLP, and its deep trust-based access to various clients in law enforcement, publications, heritage libraries, defense and PSUs, shall help Sapio significantly multiply its value. Our A.I. is powered by intelligence from the voice of millions of citizens, and more than a dozen world leaders and domain experts. Now, with KGS Microsystems LLP, invaluable intelligence from the analogue world shall also power our A.I. government systems”, says Hardik Somani, Director and COO of Sapio Analytics.
Sapio Analytics Heritage Restoration Division restores heritage using artificial intelligence and domain expertise and is responsible for presenting the ancient culture of India to the world. The Smart Healthcare Division of Sapio has created India’s largest network of primary healthcare guidance centers, through a joint venture, and shall need digitization of millions of historical records. Law Enforcement, Intelligence, Economic Growth and Local Administration Divisions of the Sapio group shall also benefit from smart digitization.
Having worked on more than 35 million records across libraries, heritage and other archives, KGS Microsystems LLP hopes to become the choice of digitization across the developing world with this acquisition. The digitization market is growing at 13.5% CAGR globally and is expected to have growth rate of around 20% in developing countries in the coming decade. Smart digitization is expected to new opportunities for this market.
Source: Mint