$424m turnover UiPath, has announced the acquisition of Manchester AI specialist, Peak.
The group, which has 50 offices around the world specialises in next generation agentic automation – using AI to take autonomous actions.
Peak’s trio of co-founders – Richard Potter, David Leitch, Atul Sharma said in a joint update that they were “incredibly excited” to join UiPath.
“For our customers, this is an exciting milestone. Our core technology, team and vision remain unchanged — only now, we have the backing of one the most respected AI and automation companies in the world. Together, we will deliver even greater value, ensuring that businesses can not only make smarter decisions with AI but also act on them seamlessly through automation,” they stated.
“For our team, this marks a huge opportunity for growth, collaboration and impact. UiPath’s culture of innovation and excellence makes it the perfect environment for us to continue pushing the boundaries of decision intelligence and AI-driven automation.”
Daniel Dines, who co-founded UiPath in 2005 and was reappointed as CEO last year, explained why they’d made the move:
“With the acquisition of Peak, we are accelerating our mission to strengthen our vertical AI solutions strategy.
“When combined with the UiPath platform, Peak’s exceptional purpose-built AI applications will enhance our ability to provide solutions that optimise industry-specific use cases and deliver incredible value to customers.”
Peak started on out “on a pub napkin” and has raised $119m since 2015. Its investments came from the likes of Softbank Vision Fund II alongside existing investors Praetura Ventures, MMC Ventures, Oxx, Arete and Octopus Ventures.
Its AI platform works by optimising product inventory and pricing for businesses of all sizes. That means they can develop AI workflows, process data, and provide predictions for critical business processes through APIs or integrated web applications.
Richard Potter, CEO & Co-Founder of Peak said that being part of UiPath would mean they can “scale globally” and reach new sectors.
“Joining forces with UiPath is the perfect next step for Peak at this stage of our journey, and I couldn’t be more excited. As automation and agentic AI converge, we’re entering a new era of possibilities for the enterprise.
“UiPath’s global reach, deep enterprise expertise, and unwavering commitment to AI innovation will enable us to accelerate our vision—empowering businesses with specialised decision-making AIs at scale. We are incredibly proud of what we’ve built, and as part of UiPath, we look forward to delivering even greater value to our customers while pushing the boundaries of what’s possible with AI in the enterprise.”
Peak said that the acquisition would “supercharge AI-powered automation” by combining its decision intelligence with UiPath’s automation capabilities and bring Peak’s technology to thousands of organisations around the world.
