Boerse Stuttgart has acquired 100 percent of Sowa Labs GmbH with effect from 30 November. The fintech company, which is based in Ulm, Germany, specialises in predictive data analytics and has been analysing data by using proprietary artificial intelligence since 2013.
Its core area of business is a real-time analysis of the rapidly growing amount of diverse financial market information on the internet. The technology is designed to assist customers – including exchanges, major banks, insurance groups and financial market data providers – in their professional financial decisions.
Alexander Höptner, a member of the Management Board of Boerse Stuttgart GmbH, states:
‘Sowa Labs is a perfect complement to the Group, and will boost our innovative strength. Thanks to this strategic step, we are able to fulfil a key task that forms part of our digital strategy: in expanding the areas of artificial intelligence and data analysis, we are focusing fully on the retail investor.’
Sowa Labs is part of Boerse Stuttgart Digital Ventures GmbH, which is currently working on innovative products in the areas of equities, cryptocurrencies and blockchain. The Board member added:
‘We warmly welcome our new colleagues from Sowa Labs to the Boerse Stuttgart Group, and look forward to developing customised digital products for our customers together.’
A seven-digit figure changed hands in the transaction.
Featured image via Sowalabs.com