Latest news with #EnterpriseSoftware
Reuters
a day ago
- Business
- Reuters
Cognition AI to buy Windsurf, doubling down on AI-driven coding
July 14 (Reuters) - Artificial intelligence startup Cognition AI on Monday agreed to acquire Windsurf, an integrated development environment platform, strengthening its position in the rapidly evolving enterprise software market. The deal follows Google's $2.4 billion deal with Windsurf last week aimed at acquiring top talent and securing licensing rights to its technology. The deal with Google marks a win for Windsurf's backers, who have raised $243 million from investors including Kleiner Perkins, Greenoaks, and General Catalyst, and was last valued at $1.25 billion one year ago, according to PitchBook. The move reflects a broader trend among technology giants such as Alphabet (GOOGL.O), opens new tab and Meta, which are making bold, high-value acquisitions and offering lucrative compensation packages to secure leading industry talent amid intensifying competition in the AI sector. The deal with Cognition covers Windsurf's intellectual property, product line, brand, and business operations, as well as its highly regarded engineering, product, and go-to-market teams. While the financial terms of the deal were not disclosed, Windsurf brings with it $82 million in annual recurring revenue and a customer base of more than 350 enterprises. "Among all the teams in the AI space, Cognition was literally the one we have respected the most, and they are a perfect fit to bring Windsurf to the next phase," Jeff Wang, Windsurf's interim chief executive officer, said in an email to employees. In the immediate term, Windsurf will continue to operate independently, with Cognition pledging significant investment to integrate Windsurf's technology and unique assets into its own product suite, including its flagship autonomous agent, Devin. Earlier, Windsurf had been engaged in months-long discussions with OpenAI regarding a potential acquisition that could have valued the company at $3 billion, sources familiar with the matter told Reuters in June.
CNA
2 days ago
- Business
- CNA
Cognition AI to buy Windsurf, doubling down on AI-driven coding
Artificial intelligence startup Cognition AI on Monday agreed to acquire Windsurf, an integrated development environment platform, strengthening its position in the rapidly evolving enterprise software market. The deal follows Google's $2.4 billion deal with Windsurf last week aimed at acquiring top talent and securing licensing rights to its technology. The deal with Google marks a win for Windsurf's backers, who have raised $243 million from investors including Kleiner Perkins, Greenoaks, and General Catalyst, and was last valued at $1.25 billion one year ago, according to PitchBook. The move reflects a broader trend among technology giants such as Alphabet and Meta, which are making bold, high-value acquisitions and offering lucrative compensation packages to secure leading industry talent amid intensifying competition in the AI sector. The deal with Cognition covers Windsurf's intellectual property, product line, brand, and business operations, as well as its highly regarded engineering, product, and go-to-market teams. While the financial terms of the deal were not disclosed, Windsurf brings with it $82 million in annual recurring revenue and a customer base of more than 350 enterprises. "Among all the teams in the AI space, Cognition was literally the one we have respected the most, and they are a perfect fit to bring Windsurf to the next phase," Jeff Wang, Windsurf's interim chief executive officer, said in an email to employees. In the immediate term, Windsurf will continue to operate independently, with Cognition pledging significant investment to integrate Windsurf's technology and unique assets into its own product suite, including its flagship autonomous agent, Devin. Earlier, Windsurf had been engaged in months-long discussions with OpenAI regarding a potential acquisition that could have valued the company at $3 billion, sources familiar with the matter told Reuters in June.
Zawya
08-05-2025
- Business
- Zawya
IFS to showcase its advanced suite of maritime solutions at the International Port and Marine Development Conference in Saudi Arabia
Dubai, United Arab Emirates: IFS, the leading provider of enterprise cloud and Industrial AI software, today announced its participation at the International Port and Marine Development Conference to be held in Jeddah, Saudi Arabia on May 13-14, 2025. The company will showcase its leading Industrial AI solutions, that are tailored to address the evolving challenges of the maritime and shipbuilding sectors. The focus will be on empowering shipbuilders, operators and maritime service providers with tools that enhance operational efficiency, ensure regulatory compliance and drive digital transformation. Some of the key solutions that will be highlighted at the conference include the, IFS Maritime ERP that provides comprehensive operational control and helps in conforming to the Environmental Ship Index (ESI), and smart port requirements, while meeting environmental and operational standards. The Enterprise Asset Management (EAM) solutions on display will highlight how the solutions are designed to maximize asset value, improve safety and boost productivity with tools that are crucial for managing mission-critical assets and ensures optimal performance and longevity. And lastly, the Service Management solutions that streamline operations, enhance customer satisfaction and support the unique needs of this sector. They help in facilitating efficient service delivery and maintenance operations. Speaking on their participation, Vijay Jaswal, Chief Technology Officer APJMEA at IFS, said, 'In keeping with the goals of the International Port and Maritime Development Conference to strengthen the nation's commitment to enhancing maritime infrastructure, IFS is very proud to be a part of this event and focus on our Industrial AI solutions, We will be showcasing our maritime sector specific solutions that help in modernising operations by embracing data-driven intelligence and predictive capabilities that ensure vessels, and all port and terminal assets perform optimally and navigate the complexities of the modern maritime landscape. We look forward to meeting our customers and industry stakeholders.' Through its participation in the conference, IFS aims to actively engage with shipbuilders, port operators, and logistics providers, and looks forward to sharing its latest technological innovations that are shaping the future of maritime operations. IFS also seeks to foster meaningful conversations around digital transformation, explore strategic partnerships, and strengthen its position as a trusted technology partner driving efficiency, resilience, and sustainability across the maritime value chain. Vijay Jaswal will be speaking on 'Improving Asset Performance with AI-Enabled APM in Port and Terminal Operations' and will also be a part of a panel discussion on 'The Pivotal Importance of Intelligent Ports Within the Intermodal Transportation Network', both on May 13th. Other senior executives from IFS will be available to meet customers at Booth 48 and 49 at the event. About IFS IFS is the world's leading provider of Industrial AI and enterprise software for hardcore businesses that service, power, and protect our planet. Our technology enables businesses which manufacture goods, maintain complex assets, and manage service-focused operations to unlock the transformative power of Industrial AI™ to enhance productivity, efficiency, and sustainability. IFS Cloud is a fully composable AI-powered platform, designed for ultimate flexibility and adaptability to our customers' specific requirements and business evolution. It spans the needs of Enterprise Resource Planning (ERP), Enterprise Asset Management (EAM), Supply Chain Management (SCM), and Field Service Management (FSM). IFS technology leverages AI, machine learning, real-time data and analytics to empower our customers to make informed strategic decisions and excel at their Moment of Service™. IFS was founded in 1983 by five university friends who pitched a tent outside our first customer's site to ensure they would be available 24/7 and the needs of the customer would come first. Since then, IFS has grown into a global leader with over 7,000 employees in 80 countries. Driven by those foundational values of agility, customer-centricity, and trust, IFS is recognized worldwide for delivering value and supporting strategic transformations. We are the most recommended supplier in our sector.
