Meltwater B.V., a global SaaS provider of media intelligence and social analytics, has entered into a definitive agreement to acquire artificial intelligence start-up DeepReason.ai, a spin-off from Oxford University’s computer science department, for $7.3m in a combination of cash and Meltwater equity including earn-outs contingent on reaching technical milestones and retention requirements.
DeepReason.ai was established in 2018, to focus on the field of AI known as “reasoning”. Their technology is based on the Value Added Data Systems (VADA) research project, which was funded by UK research council EPSRC. This work represents 75 years of aggregate R&D experience, and is overseen by Georg Gottlob, Oxford professor and Fellow of the Royal Society. DeepReason.ai has developed a reasoning engine with an ability to maintain incremental views of knowledge graphs to solve the costly challenge of updating and maintaining complex knowledge graphs at scale.
Meltwater ingests and processes over 800 million documents a day, extracting new information on over 14 million companies, 50 million public personas (such as key decision makers within those companies and social media influencers) and 75 million topics. Every day, this knowledge graph expands by incorporating 2 billion connections to conversations around these companies, public personas and topics.