Canadian artificial intelligence company Cohere announced Tuesday that it has acquired the biomedical firm Reliant AI, a further expansion for the Toronto-based company seeking to offer an alternative to U.S. giants.
Cohere said the acquisition expands its “footprint in the global health care and life sciences sectors.” It did not release terms of the deal.
Reliant AI, which operates out of Montreal and Berlin, helps pharmaceutical companies process and understand massive amounts of data.
The acquisition comes shortly after Cohere announced a deal to acquire German AI firm Aleph Alpha, creating a combined entity valued at around $20 billion with dual headquarters in Toronto and Berlin.
The Aleph Alpha deal, backed by both the Canadian and German governments, is designed to position Cohere as a sovereign alternative to American AI giants in the European market and in Asia.
Cohere said the Reliant AI acquisition strengthens its “position as a global sovereign AI leader, building on its established presence in Canada and Germany and growing momentum across Europe.”
Cohere, which was founded in Toronto in 2019, says it is focused on developing AI products that help companies improve their businesses, with less attention to industry buzzwords like artificial general intelligence, or AGI, the hypothetical point at which AI surpasses human intelligence.
Leave a comment