SoundHound AI (NASDAQ:SOUN), a leading voice artificial intelligence (AI) company, has announced the acquisition of Amelia, an enterprise AI software company. This move unlocks new verticals, partnerships, and cross-selling opportunities across the quickly growing voice AI space.
"Amelia is an innovative company that shares our passion for AI-fueled conversations. We are looking forward to leveraging our shared capabilities to offer the best AI customer support solutions available anywhere," said Keyvan Mohajer, SoundHound AI's CEO and co-founder.
"This acquisition positions SoundHound as a strong force with range, scale, and world-class technology," he added.
Following the acquisition of food-ordering platform Allset, this acquisition targets new market segments, bringing SoundHound's proprietary voice AI technology across industries like healthcare, financial services, and retail.
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After this transaction, Amelia, one of the world's largest privately held AI software companies, will enter the publicly accessible market. Amelia was founded in 1998 under the name IPsoft. Its main products are Amelia, a Conversational AI platform, and AIOps, an IT operations management platform.
Backed by strategic investments from BuildGroup and Monroe Capital (NASDAQ:MRCC), Amelia built its brand into a market leader in enterprise AI solutions. Alongside partner relationships built over the last 25 years, Amelia brings additional expertise and new intellectual property to SoundHound's portfolio.
"We're excited to bring Amelia's experience and relationships to SoundHound AI, bolstering the company's growing AI customer service business to form a new category leader in the space," said Lanham Napier, President of Amelia and co-founder of BuildGroup.
Per the deal's terms, the transaction is worth $80 million in cash and equity, with partial payment, assumption of Ameila's debt, and future earnout potential aligned to revenue milestone achievements. SoundHound AI is also granting an aggregate of 3,738,317 restricted stock units (RSUs) as inducement awards to 350 Amelia employees in accordance with Nasdaq Listing Rule 5635(c)(4).
The latest data shows that the combined company holds around $160 million of cash and $39 million of debt. Combined revenue in 2025 is expected to reach $150 million, with Amelia contributing over $45 million.
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