Microsoft scoops up Greek tech firm Softomotive

Microsoft, an American multinational technology company, confirmed their acquisition of Greek-owned Softomotive, in what is the biggest acquisition of a Greek tech company to date.

UK-based Softomotive was founded in 2005 by Marios Stavropoulos and is today considered a pioneer in robotic process automation (RPA): This is one of the technological sectors currently enjoying the greatest demand and which concerns software used for the automation of processes a computer user executes repeatedly.

Robotic process automation (or RPA) is a form of business process automation technology based on metaphorical software robots (bots) or on artificial intelligence (AI)/digital workers.

Through the technology Softomotive has developed, businesses are able to save time, cut costs, increase work efficiency and relieve their workers of processes that can be implemented mechanically. The company’s software is now being used successfully in the banking and insurance sectors, as well as by healthcare companies.

Softomotive cooperates with more than 9,000 international clients. It opened its London offices in 2015. It also has a presence in New York, India and South Korea. As Bloomberg has already reported, thanks to its rising course, Softomotive today rivals many foreign startups and software companies, including Automation and UiPath, which is about to be listed and was recently valued at $7 billion.