LogMeIn is to acquire Nanorep, a chatbot and virtual assistant company based in Israel, in a deal worth approximately $45 million.
Nanorep uses artificial intelligence and patented natural language processing technologies to create solutions that make self-service more engaging and intuitive. Its customers include Intuit, FedEx, Toys ‘R’ Us and Vodafone.
Following LogMeIn’s recent release of its new intelligent customer engagement platform, Bold360, the Nanorep acquisition represents another step forward in LogMeIn’s mission to empower companies to deliver more human, personalised and intelligent customer engagement.
“Artificial intelligence is changing the way we interact with our favorite brands and will play a critical role in the future of customer engagement,” said Bill Wagner, CEO, LogMeIn.
“With Nanorep, we gain proven technology and AI expertise that expands our Bold360 offering, accelerates our customer engagement vision and provides a natural path for us to leverage these emerging technologies across our entire portfolio. We believe in the ability of technology to unlock the potential of the modern workforce and with the addition of Nanorep we are going to be able to deliver solutions that will help our customers achieve the next generation of humanised and personalised customer service.”
While chatbots, virtual agents and artificial intelligence have seen a rapid rise across personal and business use cases, their use and adoption in customer service has been profound.
A recent study from Gartner suggests that the percentage of customer service experiences that will be handled by conversational agents is expected to increase from 3% in 2017 to 30% by 2022.
Nanorep has introduced AI in large-scale customer engagement environments, and has helped humanise virtually assisted interactions.
“LogMeIn and Nanorep share a common vision for the future of customer engagement, and that is one predicated on providing personalised, human experiences that can simultaneously boost customer satisfaction while reducing costs,” said Eli Campo, CEO, Nanorep.
“This is not only a natural fit, but an immediate win for our respective customers. By adding our expertise in artificial intelligence to the already strong customer engagement and support proficiency of LogMeIn, we believe that we will be able to create the tools and solutions that customer support teams will want to have in their arsenal now and in the future.”
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