Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, December 9, 2022

Article Excerpt

UIPATH INC., $12.95, symbol PATH on New York, offers a robotic automation platform that utilizes artificial intelligence (AI) to help reduce the amount of manual work done by a company’s employees. UiPath’s platform automates work by emulating human behaviour. The platform offers both tools for professional software developers and simplified options for “citizen developers.” That lets people who have process-oriented jobs develop their own automations. UiPath now has over 10,650 customers, including over 60% of the Global 500. Those big clients include Adobe, Applied Materials, Chevron, Chipotle Mexican Grill and CVS Health. The company’s earliest customers were in Europe and Japan, but its business is now split roughly evenly in thirds among the U.S., Europe, and Asia. On April 20, 2021, the robotic process automation specialist launched its IPO, selling 23.9 million shares at $56 a share. That was above the proposed pre-IPO pricing range of between $52 and $54. Founder and CEO Daniel Dines now controls 88% of UiPath’s votes. In April 2022,the…