ABBYY explained

ABBYY
Logo Alt:A text colored red with the company name
Type:Private
Founder:David Yang[1]
Footnotes:Financials [2] -->

ABBYY is an American (formerly Russian) technology company specializing in document processing,[3] data capture, process mining and optical character recognition (OCR).[4] [5] [6] 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]

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 entered the professional translation market in 2007. It works with AI, analytics, and RPA vendors UiPath, Blue Prism, Alteryx, PwC India, and others.[12] In 2019, ABBYY acquired TimelinePI, a process mining company, and Marlin Equity Partners became its biggest shareholder in 2021.[13] [14]

In 2022, the company left Russia and stopped serving the Russian market: it stopped sales/provision of services in Russia and Belarus, moved critical personnel, and filed for the liquidation of its Russian legal entities.[15]

Offices & management

The company is headquartered in Milpitas, California, with regional offices in 15 countries.[16] As of May 2023, ABBYY Group employs more than 1,000 people worldwide.[17]

ABBYY's CEO is Ulf Persson.[18]

Company products

Additional products include NeoML, a cross-platform open-source machine learning library.[24]

Notes

  1. Web site: 9 Tips To Manage Remote Teams - HR.com .
  2. Web site: Microsoft Corporation Form 10-K . July 28, 2022 . . 8, 57, 59.
  3. Web site: ABBYY, Kofax, WorkFusion, and Automation Anywhere are on the Top of Everest Group's PEAK Matrix® for IDP 2022 . RPA Master. 2022-10-05 . 2023-04-27 .
  4. Web site: Abbyy releases Vantage 2 and a new skills marketplace . 2022-01-04 . SearchEnterpriseAI . en.
  5. Web site: 2021-05-15. Marlin bets big on Abbyy's digital intelligence initiatives. 2022-01-04. VentureBeat. en-US.
  6. Web site: How to inject Intelligent Document Processing into SAP RPA IDM Magazine. 2022-01-04. idm.net.au.
  7. Web site: ABBYY USA Software House Inc - Company Profile and News . Bloomberg Markets . 2023-05-17 .
  8. Web site: ABBYY FineReader PDF Review: Is It Worth It in 2023? . Softwarehow . Adrian Try . 2022-07-19 . 2023-05-17 .
  9. Web site: Blinnikova . Natalia . 2018-07-04 . ABBYY Founder David Yang on AI, Building a Business and the Meaning of Life . 2023-08-27 . news.itmo.ru . ru.
  10. Web site: History of Intelligent Automation and ABBYY Innovations (Infographic) . ABBYY . 2023 . 2023-10-01 .
  11. Web site: Вектор модернизации: обзор обновленного ABBYY FineReader 12 . 2023-08-27 . 3DNews - Daily Digital Digest . ru.
  12. Web site: 2019-10-09. PwC and ABBYY to deliver digital intelligence solutions in India. 2022-01-12. www.consultancy.in. en.
  13. Web site: 2021-05-15. Marlin bets big on Abbyy's digital intelligence initiatives. 2022-01-20. VentureBeat. en-US.
  14. Web site: Marlin completes growth equity investment in ABBYY . Marlin Equity . 2021-05-19 . 2023-05-17 .
  15. Web site: ABBYY is a US-based, privately-owned software company . ABBYY . 2023-10-02 .
  16. Web site: ABBYY Corporate Headquarters, Office Locations and Addresses . Craft.co . 2023-05-17 .
  17. Web site: ABBYY Timeline - Process Mining Software Comparison . Institute of Information Systems . 12 May 2020. 2023-05-17 .
  18. Web site: Ulf Persson, Abbyy USA Software House Inc: Profile and Biography . Bloomberg Markets . 2023-05-17.
  19. Web site: Abbyy открыла сервис автоматической обработки документов для тех, кто не умеет программировать. 2022-01-26. CNews.ru. ru.
  20. Web site: 2021-03-28. ABBYY's new no-code AI technology could be a gamechanger. 2023-03-11. healthcare-digital.com. en.
  21. Web site: Abbyy releases Vantage 2 and a new skills marketplace . TechTarget . 2023-05-08 .
  22. Web site: Abbyy looks to RPA to breathe new life into scanning and workflow. 2023-03-11. TechCrunch. 8 November 2018 . en-US.
  23. Web site: ABBYY Proof of Identity simplifies document-centric digital onboarding . Help Net Security . 2022-10-12 . 2023-05-17 .
  24. Web site: Hainzinger. Brittany. ABBYY updates machine learning library. 2022-01-26. App Developer Magazine. en-US.

External links

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