AI tech unicorn Augury buys Israeli industrial AI company Seebo for USD 140 million

Categories: Corporate and M&A, Hi-Tech

Israeli AI-based machine health monitoring company Augury is to acquire Israeli AI-based process intelligence company Seebo in a cash and stock deal estimated at appx. USD 140 million.

Augury’s machine health solutions help companies ranging from Colgate and PepsiCo to ICL and Essity predict machine reliability and performance issues to eliminate downtime and increase production efficiencies.

Last October, the company raised USD 180 million, at a valuation of over USD 1 billion, and has raised a total of USD 286 million.

Herzog Fox & Neeman‘s Gal Eschet and Gilad Yacubovich represented Augury and Shibolet & Co.‘s Ofer Ben-YehudaandDani Kariv represented Seebo.

The deal is expected to close in May 2022.

More details

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