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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Appen Limited    APX   AU000000APX3

APPEN LIMITED

(APX)
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Appen : Completes Acquisition of Figure Eight and Achieves Critical Integration Milestone

04/17/2019 | 04:12pm EST

Integration Establishes Appen as the Global Leader and Provider of High-Quality, Human-Annotated Data for Machine Learning Models

Appen Limited, a global leader in the development of high-quality, human-annotated datasets for machine learning (ML) and artificial intelligence (AI), today announced it has completed the acquisition of Figure Eight, which occurred on April 2nd, 2019. In addition, Appen has also achieved a technical integration milestone, as Figure Eight customers now have access to Appen’s extensive crowd resources directly through the Figure Eight platform.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190417005926/en/

Appen offers a highly efficient crowd management platform, a scalable, skillful, multilingual crowd, the world’s most innovative customer-facing SaaS platform with ML-assisted annotation, as well as multiple delivery models: open contributors, curated at-home crowds, secure/NDA crowds and on-site workers.

The combination of Appen’s skilled and diverse global workforce of more than 1 million global contractors with Figure Eight’s industry-leading data annotation platform creates a robust training data offering designed to enhance AI initiatives for a wide variety of use cases. This offering is uniquely positioned to deliver on the increasing volume, quality and speed requirements for training data to support business innovations and efficiencies which use ML and AI.

“With a critical component of our integration complete, we’re excited for the opportunity to deliver immediate value to Figure Eight customers who can now accelerate their AI and machine learning initiatives with the massive scale of Appen’s crowd,” said Mark Brayan, Appen’s Chief Executive Officer. “We’re also pleased to offer even more flexible work from home opportunities to our crowd as a result of integrating with the Figure Eight platform.”

Existing Figure Eight platform users will immediately gain access to over 1 million on-demand global crowd workers covering 130 countries across 180 languages and dialects. This expansion in sourced annotators, combined with the automated quality controls and machine learning assisted annotation tools of Figure Eight, will allow both Figure Eight and Appen customers to scale their AI initiatives.

“We couldn’t be more excited to be officially part of the Appen family and to have achieved this initial integration milestone,” said Becky Scott, Figure Eight’s Chief Operating Officer. “Together, we provide a single-source global data annotation solution for any company, in any vertical, seeking to advance its use of artificial intelligence.”

About Appen

Appen is a global leader in the development of high-quality, human-annotated datasets for machine learning and artificial intelligence. Appen brings over 20 years of experience capturing and enriching a wide variety of data types including speech, text, image and video. With deep expertise in more than 180 languages and access to a global crowd of over 1 million skilled contractors, Appen partners with technology, automotive and eCommerce companies — as well as governments worldwide — to help them develop, enhance and use products that rely on natural languages and machine learning.

About Figure Eight

Figure Eight, an Appen company, combines the best of human and machine intelligence to provide high-quality annotated training data that powers the world’s most innovative machine learning and business solutions. With over a decade of experience and 10+ billion judgments, Figure Eight’s enterprise-ready data annotation platform delivers unprecedented quality and scale across a diverse set of industries and use cases.


© Business Wire 2019
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Financials
Sales 2020 678 M 500 M 500 M
Net income 2020 64,3 M 47,5 M 47,5 M
Net cash 2020 103 M 75,8 M 75,8 M
P/E ratio 2020 59,7x
Yield 2020 0,36%
Capitalization 3 784 M 2 797 M 2 792 M
EV / Sales 2020 5,43x
EV / Sales 2021 4,26x
Nbr of Employees 781
Free-Float 91,0%
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Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 38,67 AUD
Last Close Price 31,10 AUD
Spread / Highest target 44,7%
Spread / Average Target 24,4%
Spread / Lowest Target -3,54%
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Managers
NameTitle
Mark Ronald Brayan Chief Executive Officer, Executive Director & MD
Christopher Charles Vonwiller Non-Executive Chairman
Kevin Levine Chief Financial Officer
Wilson Pang Chief Technology Officer
William Robert Pulver Non-Executive Director
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