Leverages Company’s technological expertise in Artificial Intelligence (AI) and Natural Language Processing (NLP) as core foundational technologies to link and make a broad array of information sources and data discoverable.
Adds $1.3 Million to Annual Recurring Revenue
Research Solutions, Inc. (NASDAQ: RSSS), a trusted partner providing cloud-based workflow solutions to accelerate research for R&D-driven organizations, today announced its acquisition of ResoluteAI, an advanced search platform aimed at equipping organizations with search, discovery, analysis, and knowledge management tools powered by AI and NLP technologies. ResoluteAI’s state-of-the-art integrations of taxonomies, ontologies, and knowledge graph technology, together with the latest Large Language Models (“LLM”), make information discovery and retrieval highly efficient.
“At Research Solutions, we empower research-intensive organizations to accelerate innovation,” said Roy W. Olivier, CEO of Research Solutions. “This strategic acquisition allows us to broaden our technological expertise, transforming our solutions by leveraging the latest technology to help researchers power their innovation workflows, saving time and enabling users to make decisions confidently as they seek to achieve the next innovative breakthrough. This technological foundation will enable Research Solutions to provide specific solutions for use cases throughout the Innovation process from Strategy to Research & Development to Post-Market and Commercial solutions.”
The transaction will enable Research Solutions to deliver true enterprise search capabilities across a comprehensive suite of data sources and extend their reach into effective knowledge management, including search across customer internal datasets. ResoluteAI’s current suite of integrated datasets, while providing a comprehensive resource for Life Science companies, including Pharma, Biotech, and MedTech, also includes datasets relevant to all other industries, such as engineering and chemical-focused innovation. Integration between the two companies’ solutions will allow the combined company to offer a comprehensive product ecosystem that delivers insights to users throughout the innovation process. The acquisition also represents a strong cross-selling opportunity, stemming from highly complementary products and technology that cater to key sectors and market segments.
Integrating the advanced search capabilities of ResoluteAI into Research Solutions’ Article Galaxy platform and rapid access to every scientific journal article into ResoluteAI’s Foundation platform will be the immediate first steps that will translate into an upgraded customer experience for existing and new customer bases.
“The advanced search technology of ResoluteAI, in combination with Research Solutions’ expertise in reference management and document delivery, creates tremendous opportunities to leverage strategic technology synergies,” said Steven Goldstein, CEO of ResoluteAI. “We are excited to join Research Solutions and apply our expertise to deliver best-in-class research workflow solutions.”
Together, the companies will continue to deepen their understanding of the innovation value chain and the specific needs of users and customers to create a product ecosystem that allows for the flexibility to adapt products and business models to the needs of industry leaders and researchers.
“ResoluteAI shares our mission to support the innovation process from end to end with the most comprehensive information and knowledge tool on the market,” shared Michiel van der Heijden, Chief Product Officer of Research Solutions. “We are transforming how people discover and acquire information and how they analyze and manage the data they need for their work as part of an overall workflow.”
Founded in 2015 and headquartered in New York, New York, ResoluteAI develops advanced search and discovery tools covering several workflows, including but not limited to, Research & Development, Competitive & Market Intelligence, IP Management, Clinical Operations & Analysis, Post Market Surveillance, and Business Development. As of June 30, 2023, ResoluteAI had approximately $1.3 million in Annual Recurring Revenue under contract.
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