the acquisition of a majority stake in Quantworks
Panter Ltd. today announced the acquisition of a majority stake in Quantworks Ltd. Quantworks is a startup that offers robust machine learning (ML), data science and cloud architecture services. Panter develops digital products and services following lean and agile principles, adapting the latest technologies to provide more (big) data-driven and machine learning services, augmented and virtual reality applications (AR/VR), and cloud-based infrastructure. The parties have agreed not to disclose the purchase price. The acquisition will enable Panter to establish itself as a significant provider of artificial intelligence (AI) for consulting and software product development.
Analysts at Statista value the global enterprise software market alone at over $457 bn in 2019; research from IDC forecasted that worldwide spending on cognitive and artificial intelligence systems would reach $77.6 bn in 2022. Panter finds itself well-positioned to gain market shares in existing markets that are poised to accelerate with the anticipated adoption of AI, ML and data sciences.
After collaborating on AI activities for about two years, the Panter and Quantworks boards and founders decided to start official acquisition talks in November 2018. Details of the transaction have been kept confidential.
Panter’s strategy involves a commitment to open innovation. The company runs internal education programmes as well as external event series such as Pantalks and AI mornings. These initiatives encourage all team members to engage actively with new ideas, enabling Panter to leverage its existing and extended network and ecosystem, which includes Impact Hub Zurich, Impact Hub Switzerland, Kickstart Innovation, and more.
Both Panter and Quantworks are committed to the in-depth evaluation of the many possibilities offered by data. New and existing customers will benefit from this advanced combination of skills. ‘Quantworks’ operational excellence consulting expertise is based on state-of-the-art machine learning technologies combined with Panter’s data and cloud infrastructure know-how. This enables dependable end-to-end solutions that serve real customer needs,’ says Martin Mächler, co-founder of Panter and member of the board.
About Quantworks Ltd.:
Quantworks is a specialised professional service company that uses state-of-the-art machine learning methods to improve customers’ overall performance. Operational excellence is a crucial success factor for corporate performance today. Competition is rising and regulation is increasing, while economic, social and environmental targets present new challenges.
Our management consulting services focus on our clients’ most critical issues: operations, technology, advanced analytics and sustainability across a variety of industries.
We tackle operational excellence with the most recent advances in machine learning and artificial intelligence. Our methods allow us to discover inefficient, slow, expensive, human labour-intensive, repetitive or wasteful processes and transform them into efficient operational tasks.
About Panter Ltd.:
Panter develops mission-critical data-driven digital products and services following lean and agile principles. It takes advantage of the latest technology, such as AI/machine learning, AR/VR and cloud-based infrastructure.
Panter is at the forefront of digital innovation and transformation thanks to its connections with the biggest startup ecosystem in Switzerland through Impact Hub Zurich, Impact Hub Switzerland and Kickstart Innovation. Panter runs Switzerland’s oldest and largest tech & non-tech meetup event series, Pantalks and AI mornings, which has nearly 3,000 invitees to date and offers 10 to 20 events per year.
The new board of Quantworks Ltd. is composed of (left to right):