Lighthouse guides Logical Glue through acquisition
Advice from Cambridge-based Lighthouse Advisory Partners ensured Logical Glue – a global leader in Explainable AI (XAI) – didn’t come unstuck in its sale to Swiss FinTech company Temenos AG.
Founded in 2012, London-based Logical Glue builds future-proofed XAI-powered systems that it says bring transparency to the forefront of business decision making and ensures best practice accountability offering real business value.
Lighthouse’s Les Elby and Mark Davis advised Logical Glue on the transaction, for which no price has been disclosed.
Max Chuard, CEO at Geneva-based Temenos, said: “This is a highly strategic acquisition for Temenos as it accelerates our AI roadmap, brings an impressive team onboard that is immersed in AI and Machine Learning and builds upon the work carried out by Temenos’ AI Centre of Excellence.
“Logical Glue is a true innovator and its patented, award-winning Explainable AI platform and AI credit scoring models are unique in the banking industry. Explainable AI is a game changer for our customers.”
Quoted on the Swiss stock exchange, Temenos specialises in enterprise software for banks and financial service companies.