Cohere
1 item across 1 edition. First seen Thu 17 Sep, last seen Thu 17 Sep.
- The two companies announced on 16 September the signing of a definitive business combination agreement, following the planned combination announced in April. The release says the transaction "will increase Cohere's employee headcount to more than 1,000 across both continents", with the company dual-headquartered in Berlin and Toronto and Aleph Alpha's Heidelberg office kept as a research centre. Operating globally as Cohere, the release says the unified company "will effectively create the first transatlantic sovereign AI solution".
- Two appointments take effect on close: Ilhan Scheer, currently Co-CEO of Aleph Alpha, becomes Chief Operating Officer; Samuel Weinbach, co-founder and Co-Chief Research Officer of Aleph Alpha, becomes Chief Research Officer. Cohere CEO Aidan Gomez is quoted: "No government or enterprise should have to choose between capable AI and control over their technology."
- The release states Cohere has raised "~$1.6BUSD" and that Aleph Alpha "employs some 200 talent across four locations in Germany". The combined company will advance its partnership with Schwarz Group to deliver sovereign AI on STACKIT.
- The transaction "remains subject to final regulatory approvals and is expected to close later this year". The release gives no purchase price, no combined revenue figure and no product roadmap, saying only that "further integration and product details" will follow.