French Company Linedata Acquires Pune-Based AI Firm Nroad

French company Linedata has bought a technology company called NROAD, which is based in Pune, India. This deal will help Linedata use NROAD’s smart technology to process financial data better in the United States. NROAD has a special tool called Convus that helps turn messy financial information into useful insights for people who manage money, like banks and investment firms.

In the financial world, a lot of data isn’t organized well, which makes it hard to use. About 80% of this data is unstructured, meaning it needs a lot of work to make sense of it. NROAD’s smart technology makes this job easier, helping banks and other financial companies save money while still doing their work correctly and following the rules. By adding NROAD’s tools, Linedata can offer even better services to its customers.

Linedata’s CEO, Anvaraly Jiva, says that this purchase will make their company stronger by giving them better data processing tools. The knowledge from both companies will help them create new ways to manage financial data, making it easier for their clients to solve problems. Aashish Mehta, the founder of NROAD, also believes that this deal will let them reach more customers thanks to Linedata’s presence in the global market.

This acquisition is an important move for Linedata as they want to grow their technology in the United States, where many companies are looking for ways to automate their data processing. By using NROAD’s AI technology, Linedata aims to help financial institutions keep up with modern technology.

The partnership shows how important smart technology is becoming in finance. Many companies want to use these tools to work better and save time. By combining NROAD’s technology with Linedata’s, clients will be able to handle financial data more easily, make better decisions, and follow rules more effectively.

Together, Linedata and NROAD will provide advanced tools for financial organizations. This will help them deal with the challenges of managing large amounts of data while staying ahead of their competitors in the market.