Appen Completes the Acquisition of Figure Eight

Appen, Figure Eight, Acquisition

Appen has acquired Figure Eight for $300 million, which includes a $175-million upfront cash payment and an additional of $125 million based on performance this year

Appen Limited has announced the completion of Figure Eight acquisition, which occurred on April 2nd, 2019. With this, Figure Eight customers have access to Appen’s extensive crowd resources directly through their platform.

This acquisition will facilitate delivery for increasing volume, quality and speed requirements for training data to support Machine Learning and AI.

“With a critical component of our integration complete, we’re excited for the opportunity to deliver immediate value to Figure Eight customers who can now accelerate their AI and machine learning initiatives with the massive scale of Appen’s crowd,” said Mark Brayan, Appen’s Chief Executive Officer. “We’re also pleased to offer even more flexible work from home opportunities to our crowd as a result of integrating with the Figure Eight platform.”

“We couldn’t be more excited to be officially part of the Appen family and to have achieved this initial integration milestone,” said Becky Scott, Figure Eight’s Chief Operating Officer. “Together, we provide a single-source global data annotation solution for any company, in any vertical, seeking to advance its use of artificial intelligence.”

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Suprotik Sinha is the Global News Correspondent with OnDot Media. He writes about technologies and trending news in the global enterprise space. An animal lover, Suprotik, is a postgraduate from Symbiosis Institute of Mass Communication (SIMC) Pune. He carries two years of experience in mainstream broadcast media where he worked as a reporter with Ibn7 and Zee Media in Mumbai.