Lynx Software Technologies | January 10, 2024
Lynx Software Technologies (Lynx), a leader in the development of foundational, open architecture software solutions for the Mission Critical Edge, today announced the acquisition of Thompson Software Solutions, LLC. (TSS), a provider of software development, engineering, and integration solutions to mission-critical aerospace and defense (A&D) platforms, spanning military and commercial fixed- and rotary-wing aircraft, commercial space flight, hypersonic platforms, and command-and-control systems. Its customers include the U.S. Department of Defense (DoD), prime integrators, A&D original equipment manufacturers, and commercial space companies.
Since its founding in 2004, TSS has delivered technical capabilities and strategic insights to enable innovative software products requiring the highest reliability, security, and performance standards. With expertise spanning high-integrity software architecture and development, DevSecOps, cybersecurity, airworthiness certifications, open systems architecture, simulation and training, and AI and machine learning, customers across the A&D end-markets rely upon TSS to provide strategic guidance, differentiated technical capabilities, and a deep understanding of mission requirements. TSS’s Chief Executive Officer, Les Thompson, and Chief Strategy Officer, Patrick McClellen, have taken on senior roles within Lynx following the close of the transaction.
The combination of Lynx and TSS creates a scaled provider of mission-critical software solutions for customers with complex interoperability, safety, and security challenges. Lynx’s foundational software products, open-source expertise, productivity- and security-enhancing development tools, highly technical software engineering services, delivered via both professional and managed services business models, and its highly skilled and security-cleared employee base combine to create a platform company uniquely positioned to support the full software development lifecycle for clients in aerospace, defense, and other heavily regulated end-markets.
“The TSS team has built the company on a solid foundation of trusted customer relationships, innovative and cutting-edge technical capabilities, and flawless execution. With TSS’s high-value and differentiated software development and integration capabilities, we will be better equipped to enable aerospace and defense OEMs and prime integrators to accelerate the design, development, and deployment of their products and platforms,” commented Tim Reed, Chief Executive Officer of Lynx. “As we end 2023, Lynx’s portfolio of solutions spans from the operating system to the application layer, certifiable real-time, to general purpose and open-source, and from commercial-off-the-shelf (“COTS”) to government-off-the-shelf (“GOTS”) software products. I’m thrilled to work with Les and the TSS team as we continue delivering comprehensive and unique software-enabled solutions to customers whose needs extend from the development pipeline to the Mission Critical Edge.”
“Throughout my twenty years leading TSS, we’ve been consistently committed to delivering robust software solutions that meet the stringent requirements of our customers while ensuring they can stay on schedule and budget,” commented Les Thompson, Chief Executive Officer of TSS. “From our first discussions with Tim and the Lynx team, it became clear that Lynx is not just a vendor looking to push products but a committed, mission-oriented partner with the same objectives we have here at TSS, which includes continuing to deliver on our shared goal of providing resilient, secure, and performant software solutions targeted at the most demanding mission-critical environments.”
“The combination of Lynx and TSS creates a software solutions platform placed at the center of priority aerospace and defense investment areas, notably open standards, modularity, and security. Like TSS, Lynx has an established track record of exceeding customer expectations with its innovation, performance, and value proposition. As a combined company, Lynx and TSS are well-positioned to grow as our clients continue to execute on the software modernization, integration, and development priorities,” commented Patrick McClellen, Chief Strategy Officer of TSS.
About Lynx Software Technologies
Lynx Software Technologies is on a mission to improve the economics of developing, deploying, and maintaining high-assurance Mission Critical Edge platforms with modular software solutions based on open standards. Our proven technology leadership, extensive system certification expertise, and commitment to open standards have consistently saved our customers millions of dollars in development costs while delivering desired system performance, security, and reliability on schedule. Lynx is committed to enabling customers to build and manage orchestrated, cloud-connected platforms that harness a broad array of modern technologies and unique design methodologies to enable accurate, deterministic decisions at the Mission Critical Edge without compromising safety or cybersecurity requirements. For more information, visit www.lynx.com.
About Thompson Software Solutions
Founded in 2004 with locations in Atlanta, GA and Fort Worth, TX, the Thompson Software Solutions team understands what is required to develop, integrate, test, and deploy software with a safety-critical pedigree while meeting the challenges of modernization and digital transformation. Our team of proven and dedicated employees takes pride in our ability to react quickly and produce quality solutions to difficult technical challenges. We work with partners to find the right path to meet operational needs while future-proofing systems with portability and sustainment considerations to ensure next-generation success. For more information, visit https://www.thompsonsoftwaresolutions.com.
About OceanSound Partners
OceanSound Partners is a New York-based private equity firm that pursues control investments in technology and technology-enabled services companies serving government and enterprise end markets. OceanSound employs a partnership approach, working closely with founders, entrepreneurs, and executives of middle market businesses to drive transformational growth. For more information, visit www.oceansoundpartners.com.
SysAid | January 12, 2024
SysAid, a leading provider of IT and Enterprise Service Management solutions, proudly announces the commencement of an exciting new chapter with the commercial release of SysAid Copilot, designed to liberate organizations by putting AI to work, for them and their people.
At the core of SysAid Copilot is the AI Chatbot for End Users delivering always-on, 24/7 service. This conversational self-service experience uses generative AI to help employees work through issues by delivering answers, utilizing the organization's data, from knowledge base articles through ticket resolution history – as well as verified external data sources, links, and documents.
Combating ineffective virtual agent deployment
According to Gartner, "Staffing an IT service desk is difficult and a considerable expense. Long phone queues and abandoned calls are not uncommon. Yet, many I&O leaders have experienced issues with the implementation and adoption of virtual support agents, which are aimed at alleviating some of these challenges." One of the main factors attributed to these issues is that initial deployments of chatbots were ineffective.
With no code zero setup required, SysAid Copilot comes with a feature set designed to counter the potential pitfalls arising from sub-optimal deployment of traditional virtual support agents.
The AI Usage Dashboard clearly reflects the value provided to both admins and end users through usage of SysAid Copilot features. For example, adoption of the AI Chatbot for End Users and Assistive AI features for admins. It also offers insights into AI-contained issues, indicating the rate at which problems were automatically resolved by SysAid Copilot using the organization's data and averting the need for ticket creation.
In parallel, admins maintain ultimate control over the quality of responses with the ability to monitor, edit, and fine-tune answers provided by the AI Chatbot enabled by a Monitor and Fine-Tune feature.
AI Author enables the provision of consistently professional service by rephrasing replies, elaborating on answers, and breaking down information into simple steps with responses that are comprehensible and accessible for employees. This also exempts admins from the need to grapple with wording and grammar.
Embedded into the channels that employees already use, SysAid Copilot facilitates quick adoption within the organization. For example, employees get service in a single click from the AI Chatbot (one-click ticket creation) or automatically via the AI Emailbot, delivering an immediate response even before an admin sees the ticket.
SysAid Copilot leverages cutting-edge generative AI technology, elevating admins to play a strategic role in the organization and improving IT productivity by over 20%.
"The release of SysAid Copilot is a momentous milestone in our quest to lead organizations on a transformative journey toward AI-driven organizational processes and excellence," said Avi Kedmi, SysAid CEO. "Tapping into specialized data accumulated from thousands of customers and millions of users, SysAid Copilot enables employees to enjoy a fully conversational experience, freeing up admins to focus on more strategic work and become the catalyst for organizational productivity. SysAid Copilot orchestrates service management across the organization, embodying our commitment to infusing intelligence and ease into the workday, reshaping the landscape of service management. And this is only the beginning, as our dynamic roadmap promises a steady stream of groundbreaking features and capabilities ahead, ensuring the success of our customers."
The General Availability of SysAid Copilot follows a 5-month design partner and beta program in which a diverse and engaged group of active customers played a pivotal role in refining and enhancing the product. The dedication and enthusiasm of the beta partners have been instrumental in shaping the product and ensuring that it is finely tuned to address the unique needs of SysAid's customer community, not only meeting but exceeding their expectations.
Enhancing CSAT scores and slashing MTTR
SysAid Copilot includes AI Intelligent Categorization automatically categorizing tickets submitted via the AI Chatbot for End Users and routes to the right people while making suggestions for more appropriate categories for tickets that come in through other channels, reducing human error in ticket categorizations by ~40%. In parallel, AI Case Summarization provides admins with a real-time summarization of the ticket content and employee sentiment (AI Emotion) so admins can understand the context, history, and end-user sentiment at a glance.
"SysAid Copilot has helped our organization a great deal in providing support quicker. Since our department is oftentimes understaffed, wait times are higher than normal, and with SysAid Copilot we've witnessed those wait times plummeting," said Nathan Gleed, IT at the City of St George. "One of the most amazing aspects of this new technology is its continual learning, consistently improving performance and generating more accurate and sophisticated output."
SysAid is on a mission to liberate organizations by putting AI to work for them and their people. We orchestrate service management across organizations with generative AI that taps into specialized data accumulated from thousands of customers and millions of users. With zero setup requirements, our conversational AI manages employees' requests, assists with queries, and accelerates the resolution of issues. With intelligence and ease infused into the workday, productivity thrives so that employees can focus on what they're meant to do, and organizations are free to fulfill their purpose.
With over 5,000 customers, SysAid partners with organizations ranging from small businesses to Fortune 500 enterprises across 140 countries. For more information, please visit www.sysaid.com
Formstack | December 11, 2023
Formstack, a PSG and Silversmith-backed software-as-a-service (SaaS) company that provides a versatile, no-code suite to create and orchestrate workflow with custom forms, documents, and eSignatures, today announced the acquisition of Chicago-based forms provider, Formsite. This acquisition aligns with Formstack's mission to empower users with practical solutions to everyday work problems and bolsters its position as a leader in the data capture and forms market.
Over the past few years, Formstack has expanded its data capture capabilities to include document creation and management, electronic signature capture, and visual workflow building, enabling users to tap into powerful, end-to-end workflow automation. The combined capability is delivered as part of a powerful suite of tools that allows users to put their data to work for them in any number of ways and deliver relevant information to key systems via countless integrations with third party tools. Over 20,000 organizations, including Advent Health, Virgin Galactic, and Netflix rely on the Formstack suite of products to collect and manage data.
With this acquisition, existing Formsite customers will gain access to Formstack’s differentiated capabilities and advanced workflow automation. It will also enable Formstack to reach a wider audience and offer a broader range of solutions, ultimately strengthening its position in the market and improving its ability to meet the evolving needs of businesses and organizations.
“Formstack has a history of helping customers capture data and put it to work,” said Rob Lawrence, Chief Operating Officer of Formstack. “This acquisition strengthens our position as a leader in the data collection market and will also enable Formsite users to tap into all of our additional offerings and derive even more value from their current deployments of Formsite. We are excited to welcome these new customers and the Formsite team to the Formstack community, and introduce them to our world class service and product offerings.”
Founded in 1998, Formsite was started by Randy Vroman as a way to help a colleague create their own Internet survey without assistance from others. Over 25 years, Formsite’s data capture capability has evolved to allow customers to build online forms and surveys without the need for programming knowledge. With over 10,000 customers, Formsite has grown organically without any external investors, stockholders, or pressure to compromise their mission to provide a world-class online forms and surveys platform.
“We’re incredibly excited about the value this acquisition will deliver to Formsite customers,” said Randy Vroman, CEO of Formsite. “Formstack has built an incredible suite of workflow automation tools that will allow our customers to put their data to work in new and interesting ways. Our customers can expect the same great product experience and responsive customer service they have come to expect from Formsite and will experience complete continuity with no disruption to their current data capture solutions.”
Over the next few months, the teams will be working on deeper integrations between the two offerings and the Formsite team will be stepping into new roles at Formstack.
Backed by PSG Equity and Silversmith Capital Partners, Formstack is a versatile no-code suite that simplifies data management and makes building automated workflows accessible to everyone. Designed for both non-technical users and developers, Formstack offers drag-and-drop functionality, open API, and seamless integrations to streamline data collection, document generation, eSignature, and more. Formstack additionally offers a native Salesforce form solution to streamline how Salesforce users capture and update records. Whether you're a small business or a large enterprise, Formstack provides a single, customizable solution for all your data collection and workflow needs. Launched in 2006, Formstack is trusted by over 20,000 organizations worldwide—including Advent Health, Virgin Galactic, and Netflix —to digitize what matters, automate workflows, and fix processes. To learn more, visit www.formstack.com.
IBM | December 18, 2023
IBM (NYSE: IBM) today announced that it has entered into a definitive agreement with Software AG (FRA: SOW), a company majority owned by Silver Lake, to purchase StreamSets and webMethods, Software AG's Super iPaaS (integration platform-as-a-service) enterprise technology platforms, for €2.13 billion in cash.
As organizations continue to accelerate their digital transformations, application and data integration solutions are critical elements for application modernization and effectively deploying AI across the enterprise. StreamSets and webMethods are among the technology leaders in application integration, API management, and data integration. IDC predicts the worldwide integration software market will exceed $18.0 billion in 2027 at a compound annual growth rate (CAGR) of 16.1%.1
The acquisition of StreamSets and webMethods is further evidence of IBM's deep focus and investment in AI and hybrid cloud. StreamSets will add data ingestion capabilities to watsonx, IBM's AI and data platform, while webMethods will give clients and partners additional integration and API management tools for their hybrid multi-cloud environments.
The core offerings include:
StreamSets - a cloud-native DataOps and data ingestion platform which allows enterprises to achieve consistent access and delivery of data across a wide spectrum of data sources and types. StreamSets also facilitates the design of smart data pipelines and the ingestion of real-time and batch data.
webMethods - an integration and API management platform. The integration platform, deployed both on-prem and in the cloud, offers B2B integration, managed file transfer, and provides a modern API gateway to manage, monitor, and monetize APIs.
Software AG's Super iPaaS platform is growing, profitable and has a significant recurring revenue profile. StreamSets and webMethods serve more than 1,500 clients across the globe.
"Together with IBM's watsonx AI and data platform, as well as its application modernization, data fabric and IT automation products, StreamSets and webMethods will help clients unlock the full potential of their applications and data. This powerful combination helps drive innovation while preparing businesses for AI, no matter where applications or data reside," said Rob Thomas, Senior Vice President, Software and Chief Commercial Officer, IBM. "Today's news will give IBM clients and partners one of the most modern and comprehensive application and data integration platforms in the industry."
The pending acquisition follows a more than 20-year relationship between IBM and Software AG, with both StreamSets and webMethods expected to drive synergy with IBM's current portfolio, including watsonx, Red Hat, the company's IT automation products, as well as IBM Consulting. Additionally, StreamSets and webMethods are expected to benefit from IBM's global scale, operating in more than 175 countries.
"IBM is the ideal home for webMethods and StreamSets, the products at the heart of our Super iPaaS vision," said Sanjay Brahmawar, Chief Executive Officer of Software AG. "Combined with IBM's global scale and focus on hybrid cloud and AI, our people will have a fantastic opportunity to develop while helping enterprises everywhere get the most out of their applications and data."
"We believe that there is no business more iconic or better suited than IBM to continue investing in and growing these great platforms," said Christian Lucas, Chairman of the Supervisory Board of Software AG and Managing Partner of Silver Lake. "The opportunity to bring the StreamSets and webMethods teams together with IBM to innovate in building the future of hybrid cloud and next-generation AI solutions for the enterprise is uniquely compelling. We are pleased that our investment in Software AG helped spark that vision, reflecting Silver Lake's commitment to partner with the world's best management teams and technology leaders in driving exceptional value creation for customers, employees and other stakeholders."
StreamSets and webMethods will be acquired with available cash on hand. The consummation of the transaction is subject to customary closing conditions, including regulatory approvals, and is expected to be completed in the second quarter of 2024.
IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM's long-standing commitment to trust, transparency, responsibility, inclusivity and service. Visit www.ibm.com for more information.