Israeli AI chatbot startup Spetz.io to be acquired by U.S. company Paradox.ai
Categories: Corporate and M&A
DLA represented U.S. company Paradox in its acquisition of Israeli AI chatbot startup Spetz.io, a chatbot program that uses AI to conduct customer automation and which assists human resources departments in the recruitment process.
The Israeli startup has so far raised USD 750,000 in private funding from the startup accelerator program Fusion LA that works to promote Israeli start-ups in the U.S. market, as well as from the American fund GoAhead Ventures.
Paradox, based out of Scottsdale, Arizona, and is a leader in conversational AI, was represented by DLA Phoenix partner David Lewis.
The deal was estimated to be apprx. USD 5 million, according to a Calcalist source.
Fischer Behar Chen Well Orion & Co. supported the transaction on local issues.
