Research Solutions has made an undisclosed acquisition of ResoluteAI, a New York-based advanced search platform powered by Artificial Intelligence (AI) and Natural Language Processing (NLP). The acquisition aims to leverage ResoluteAI’s expertise in AI and NLP to enhance Research Solutions’ information management capabilities, making a wide range of information sources and data more discoverable.
Shares of RSSS saw a marginal decline of 0.5% at $2.04 in premarket trade on Monday following the announcement.
The strategic move allows Research Solutions to integrate ResoluteAI’s advanced search capabilities into its Article Galaxy platform, which will lead to an improved customer experience for existing and new users. Additionally, customers will benefit from quick access to all scientific journal articles through ResoluteAI’s Foundation platform.
As of June 30, 2023, ResoluteAI had approximately $1.3 million in Annual Recurring Revenue under contract, indicating the company’s current revenue generation potential.
The acquisition aligns with Research Solutions’ vision to strengthen its technological capabilities in AI and NLP, enabling better information management and discovery for its customer base. The integration of ResoluteAI’s advanced search tools is expected to enhance Research Solutions’ services, making it a more competitive player in the market for scientific research and information management.