ABBYY

Last updated

ABBYY
Company type Private
Founded1989
Founder David Yang [1]
Headquarters
Austin, Texas
,
United States
Area served
Worldwide
Number of employees
500 (2023)  OOjs UI icon edit-ltr-progressive.svg
Website abbyy.com

ABBYY is an American technology company specializing in AI-powered document processing and automation, [2] [3] data capture, process mining and optical character recognition (OCR). [4] [5] [6] It was founded in the USSR and operated in Russia for nine years before moving to the United States. Primarily focused on software as a service model, the company serves clients worldwide. [7] One of ABBYY's best-known products is ABBYY FineReader, an optical character recognition (OCR) computer program. [8]

Contents

History

ABBYY began in 1989, when David Yang founded BIT Software company in Moscow. [9] In the early 1990s, the company introduced optical character recognition (OCR) and since then kept investing in artificial intelligence (AI), natural language processing (NLP) and machine learning (ML). [10] In July 1993, the company released the first version of its ABBYY FineReader text-recognition software. [11]

ABBYY works with AI, analytics, and RPA vendors UiPath, Blue Prism, Alteryx, PwC India, and others. [4] [12] In 2019, ABBYY acquired TimelinePI, a process mining company, and Marlin Equity Partners became its biggest shareholder in 2021. [13] [14]

After the full-scale invasion of Ukraine by Russia began in 2022, ABBYY began closing its sales, development, and service provision in Russia and Belarus. [15] As of October 2024, ABBYY’s former Russian legal entities are liquidated. [16] On 1 October 2024, Radio Liberty reported that, according to accounts from employees, ABBYY employees with Russian citizenship had been dismissed from branches in Serbia, Hungary and Cyprus. [17]

Offices & management

The company was headquartered in Milpitas, California, with regional offices in 15 countries. [18] As of May 2023, ABBYY Group had about 500 employees across 13 countries. [19] In August 2024, ABBYY opened a new R&D centre and a Centre of Excellence in India. [20] In September 2024 ABBYY dismissed part of its personnel, including some software developers. The company commented on the layoffs, stating that it had embarked on a path of transformation. In October 2024, the company announced that it would move its headquarters to Austin, Texas, [21] but keep the Mipitas office for sales, marketing and operations. [22]

ABBYY's CEO is Ulf Persson. [23]

Company products

Additional products include NeoML, a cross-platform open-source machine learning library. [29]

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. ↑ "AI Giant ABBYY Makes a Power Move: Global Headquarters Shift and Leadership Shakeup". IntentTech. Retrieved October 15, 2024.
  4. 1 2 "Abbyy releases Vantage 2 and a new skills marketplace". SearchEnterpriseAI. Retrieved January 4, 2022.
  5. ↑ "Marlin bets big on Abbyy's digital intelligence initiatives". VentureBeat. May 15, 2021. Retrieved January 4, 2022.
  6. ↑ "How to inject Intelligent Document Processing into SAP RPA | IDM Magazine". idm.net.au. Retrieved January 4, 2022.
  7. ↑ "ABBYY USA Software House Inc - Company Profile and News". Bloomberg Markets. Retrieved May 17, 2023.
  8. 1 2 Adrian Try (July 19, 2022). "ABBYY FineReader PDF Review: Is It Worth It in 2023?". Softwarehow. Retrieved May 17, 2023.
  9. ↑ 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.
  10. ↑ "History of Intelligent Automation and ABBYY Innovations (Infographic)" (PDF). ABBYY. 2023. Retrieved October 1, 2023.
  11. ↑ "Вектор модернизации: обзор обновленного ABBYY FineReader 12". 3DNews - Daily Digital Digest (in Russian). Retrieved August 27, 2023.
  12. ↑ "PwC and ABBYY to deliver digital intelligence solutions in India". www.consultancy.in. October 9, 2019. Retrieved January 12, 2022.
  13. ↑ "Marlin bets big on Abbyy's digital intelligence initiatives". VentureBeat. May 15, 2021. Retrieved January 20, 2022.
  14. ↑ "Marlin completes growth equity investment in ABBYY". Marlin Equity. May 19, 2021. Retrieved May 17, 2023.
  15. ↑ "ABBYY is a US-based, privately-owned software company". ABBYY. Retrieved October 2, 2023.
  16. ↑ "ABBYY has completely withdrawn from the Russian market" . Retrieved October 15, 2024.
  17. ↑ "The American company ABBYY dismissed employees with Russian citizenship" (in Ukrainian). Radio Liberty. October 1, 2024. Retrieved November 12, 2024.
  18. ↑ "ABBYY Corporate Headquarters, Office Locations and Addresses". Craft.co. Retrieved May 17, 2023.
  19. ↑ "Tech company with big Ai ambitions plants HQ in Austin".
  20. ↑ "New India offices". technologymagazine.com. October 1, 2024. Retrieved October 15, 2024.
  21. ↑ Timothy Malcolm (October 12, 2024). "Top AI-focused tech company moving HQ from California to Texas". Chron. Retrieved October 14, 2024.
  22. ↑ Jeff Bell (October 13, 2024). "Tech company ABBYY to relocate headquarters to Austin, Texas". kvue.com. Retrieved October 14, 2024.
  23. ↑ "Ulf Persson, Abbyy USA Software House Inc: Profile and Biography". Bloomberg Markets. Retrieved May 17, 2023.
  24. ↑ "Abbyy открыла сервис автоматической обработки документов для тех, кто не умеет программировать". CNews.ru (in Russian). Retrieved January 26, 2022.
  25. ↑ "ABBYY's new no-code AI technology could be a gamechanger". healthcare-digital.com. March 28, 2021. Retrieved March 11, 2023.
  26. ↑ "Abbyy releases Vantage 2 and a new skills marketplace". TechTarget. Retrieved May 8, 2023.
  27. ↑ "Abbyy looks to RPA to breathe new life into scanning and workflow". TechCrunch. November 8, 2018. Retrieved March 11, 2023.
  28. ↑ "ABBYY Timeline - Process Mining Software Comparison". Institute of Information Systems. May 12, 2020. Retrieved May 17, 2023.
  29. ↑ Hainzinger, Brittany. "ABBYY updates machine learning library". App Developer Magazine. Retrieved January 26, 2022.

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