ABBYY

Last updated

ABBYY
Company type Private
FounderDavid Yang [1]
Number of employees
1,000 (2023)  OOjs UI icon edit-ltr-progressive.svg
Website abbyy.com

ABBYY is an American technology company specializing in intelligent document processing, [2] data capture, process intelligence and optical character recognition (OCR). [3] [4] [5] Primarily focused on software as a service model, the company serves clients worldwide. [6] One of ABBYY's best-known products is the ABBYY FineReader — an OCR application. [7]

Contents

History

The history of ABBYY dates back to 1989, when David Yang founded BIT Software company in Moscow. [8] In the early 1990s, the company introduces optical character recognition (OCR) and since then kept investing in artificial intelligence (AI), natural language processing (NLP) and machine learning (ML). [9] In July 1993, the first version of the text recognition software ABBYY FineReader was released. [10]

ABBYY entered the professional translation market in 2007. It partners with AI, analytics, and RPA vendors UiPath, Blue Prism, Alteryx, PwC India, and others. [3] [11] In 2019, ABBYY acquired TimelinePI, a process mining company, and Marlin Equity Partners became its biggest shareholder in 2021. [12] [13]

In 2022, the company declared a complete exit from the Russian market: it stopped sales/provision of services in Russia and Belarus, relocated critical personnel, and filed for the liquidation of its Russian legal entities. [14]

Offices & management

The company is headquartered in the Milpitas, California, with regional offices in 15 countries. [15] As of May 2023, ABBYY Group employs over 1,000 employees worldwide. [16]

ABBYY's CEO is Ulf Persson. [17]

Company products

Additional products include NeoML, a cross-platform open-source machine learning library. [23]

Notes

  1. ↑ "9 Tips To Manage Remote Teams - HR.com".
  2. ↑ "ABBYY, Kofax, WorkFusion, and Automation Anywhere are on the Top of Everest Group's PEAK Matrix® for IDP 2022". RPA Master. October 5, 2022. Retrieved April 27, 2023.
  3. 1 2 "Abbyy releases Vantage 2 and a new skills marketplace". SearchEnterpriseAI. Retrieved January 4, 2022.
  4. ↑ "Marlin bets big on Abbyy's digital intelligence initiatives". VentureBeat. May 15, 2021. Retrieved January 4, 2022.
  5. ↑ "How to inject Intelligent Document Processing into SAP RPA | IDM Magazine". idm.net.au. Retrieved January 4, 2022.
  6. ↑ "ABBYY USA Software House Inc - Company Profile and News". Bloomberg Markets. Retrieved May 17, 2023.
  7. 1 2 Adrian Try (July 19, 2022). "ABBYY FineReader PDF Review: Is It Worth It in 2023?". Softwarehow. Retrieved May 17, 2023.
  8. ↑ Blinnikova, Natalia (July 4, 2018). "ABBYY Founder David Yang on AI, Building a Business and the Meaning of Life". news.itmo.ru (in Russian). Retrieved August 27, 2023.
  9. ↑ "History of Intelligent Automation and ABBYY Innovations (Infographic)" (PDF). ABBYY. 2023. Retrieved October 1, 2023.
  10. ↑ "Вектор модернизации: обзор обновленного ABBYY FineReader 12". 3DNews - Daily Digital Digest (in Russian). Retrieved August 27, 2023.
  11. ↑ "PwC and ABBYY to deliver digital intelligence solutions in India". www.consultancy.in. October 9, 2019. Retrieved January 12, 2022.
  12. ↑ "Marlin bets big on Abbyy's digital intelligence initiatives". VentureBeat. May 15, 2021. Retrieved January 20, 2022.
  13. ↑ "Marlin completes growth equity investment in ABBYY". Marlin Equity. May 19, 2021. Retrieved May 17, 2023.
  14. ↑ "ABBYY is a US-based, privately-owned software company". ABBYY. Retrieved October 2, 2023.
  15. ↑ "ABBYY Corporate Headquarters, Office Locations and Addresses". Craft.co. Retrieved May 17, 2023.
  16. 1 2 "ABBYY Timeline - Process Mining Software Comparison". Institute of Information Systems. May 12, 2020. Retrieved May 17, 2023.
  17. ↑ "Ulf Persson, Abbyy USA Software House Inc: Profile and Biography". Bloomberg Markets. Retrieved May 17, 2023.
  18. ↑ "Abbyy открыла сервис автоматической обработки документов для тех, кто не умеет программировать". CNews.ru (in Russian). Retrieved January 26, 2022.
  19. ↑ "ABBYY's new no-code AI technology could be a gamechanger". healthcare-digital.com. March 28, 2021. Retrieved March 11, 2023.
  20. ↑ "Abbyy releases Vantage 2 and a new skills marketplace". TechTarget. Retrieved May 8, 2023.
  21. ↑ "Abbyy looks to RPA to breathe new life into scanning and workflow". TechCrunch. November 8, 2018. Retrieved March 11, 2023.
  22. ↑ "ABBYY Proof of Identity simplifies document-centric digital onboarding". Help Net Security. October 12, 2022. Retrieved May 17, 2023.
  23. ↑ Hainzinger, Brittany. "ABBYY updates machine learning library". App Developer Magazine. Retrieved January 26, 2022.

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