Robotic process automation (RPA) consulting company Neostella has acquired Work-Relay, a Salesforce and UiPath partner that offers business process management (BPM) and cloud-based workflow automation capabilities. Financial terms of the deal were not disclosed.
This is technology M&A deal number 912 that ChannelE2E has covered so far in 2022.
IT Consulting M&A: Robotic Process Automation Meets Salesforce Cloud Expertise
Neostella, founded in 2020, is based in Milwaukee, Wisconsin. The company provides business consulting, automation, and implementation services. Neostella has 100 employees with offices in five countries.
Work-Relay, founded in 2013, develops a business operations management system that overlays one Salesforce customer implementations. Key partners include Deloitte and Infosys in the IT consulting market, and Inrule, Salesforce, Amazon Web Services (AWS) and UiPath in the technology sector.
In a prepared statement about the deal, Neostella CEO Matt Lautz said:
“Work-Relay’s technology, client success, and personnel are the perfect fit with Neostella given our vision to help clients achieve operational excellence through hyperautomation. Work-Relay’s native Salesforce integration combined with Neostella’s experience within the Salesforce ecosystem fulfills an opportunity to address the needs of 150,000 Salesforce customers who seek the benefits of automation without the hassle of complex development.”
Added Work-Relay CEO Kramer Reeves:
“Work-Relay has grown from a custom SaaS application to an Enterprise Work Automation platform serving thousands of users in public and private enterprises across four continents. Work-Relay clients include large enterprises as well as small and mid-size companies who use Work-Relay software to automate work, empower workers, and achieve operational excellence when faced with complex, time-sensitive business operations, processes, and projects.
What is Robotic Process Automation?
RPA software allows businesses to write code and bots that rapidly automate manual tasks across multiple departments — from IT service desks to HR, finance, customer support and more. The fast-growing market segment is generating strong M&A activity. An expansive RPA M&A list is available here.
The market growth is largely being spurred on by customer demand. The global RPA software market is expected to reach $13.74 billion by 2028, up from $1.57 billion in 2020. The market’s compound annual growth rate from 2021 to 2028 is expected to be 32.8%, Grand View Research predicts.