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ABBYY

Topic: Company

 From HandWiki - Reading time: 4 min

ABBYY
TypePrivate
Founded1989
FounderDavid Yang[1]
Headquarters
Austin, Texas
,
United States
Area served
Worldwide
Websiteabbyy.com

ABBYY is an American technology company specializing in AI-powered document processing and automation,[2][3] data capture, process mining and optical character recognition (OCR).[4][5][6] It was founded in the USSR and operated in Russia for nine years before moving to the United States. Primarily focused on software as a service model, the company serves clients worldwide.[7] One of ABBYY's best-known products is ABBYY FineReader, an optical character recognition (OCR) computer program.[8]

History

ABBYY began in 1989, when David Yang founded BIT Software company in Moscow.[9] In the early 1990s, the company introduced optical character recognition (OCR) and since then kept investing in artificial intelligence (AI), natural language processing (NLP) and machine learning (ML).[10] In July 1993, the company released the first version of its ABBYY FineReader text-recognition software.[11]

ABBYY works with AI, analytics, and RPA vendors UiPath, Blue Prism, Alteryx, PwC India, and others.[4][12] In 2019, ABBYY acquired TimelinePI, a process mining company, and Marlin Equity Partners became its biggest shareholder in 2021.[13][14]

After the full-scale invasion of Ukraine by Russia began in 2022, ABBYY began closing its sales, development, and service provision in Russia and Belarus.[15] As of October 2024, ABBYY’s former Russian legal entities are liquidated.[16] On 1 October 2024, Radio Liberty reported that, according to accounts from employees, ABBYY employees with Russian citizenship had been dismissed from branches in Serbia, Hungary and Cyprus.[17]

Offices & management

The company was headquartered in Milpitas, California, with regional offices in 15 countries.[18] As of May 2023, ABBYY Group had about 500 employees across 13 countries.[19] In August 2024, ABBYY opened a new R&D centre and a Centre of Excellence in India.[20] In September 2024 ABBYY dismissed part of its personnel, including some software developers. The company commented on the layoffs, stating that it had embarked on a path of transformation. In October 2024, the company announced that it would move its headquarters to Austin, Texas,[21] but keep the Milpitas office for sales, marketing and operations.[22]

ABBYY's CEO is Ulf Persson.[23]

Company products

  • ABBYY FineReader, an application for documents and PDF files, based on ABBYY OCR technology.[8]
  • ABBYY Vantage, a platform for intelligent document processing (recognition, classification, and data retrieval) of documents.[24][25][26]
  • ABBYY FlexiCapture, a platform for intelligent document processing of information from documents. In 2019, natural language processing technologies were added to the solution.[27]
  • ABBYY Timeline, a platform for business process analysis and task mining.[28]

Additional products include NeoML, a cross-platform open-source machine learning library.[29]

Notes

  1. ↑ "9 Tips To Manage Remote Teams - HR.com". https://www.hr.com/en/magazines/talent_management_excellence_essentials/may_2020_talent_management/9-tips-to-manage-remote-teams_ka7uy5vh.html. 
  2. ↑ "ABBYY, Kofax, WorkFusion, and Automation Anywhere are on the Top of Everest Group's PEAK Matrix® for IDP 2022". RPA Master. 2022-10-05. https://rpamaster.com/abbyy-kofax-workfusion-and-automation-anywhere-are-on-the-top-of-everest-groups-peak-matrix-for-idp-2022/. 
  3. ↑ "AI Giant ABBYY Makes a Power Move: Global Headquarters Shift and Leadership Shakeup" (in en). IntentTech. https://intenttechpub.com/world-news/ai-giant-abbyy-makes-a-power-move-global-headquarters-shift-and-leadership-shakeup/. 
  4. ↑ 4.0 4.1 "Abbyy releases Vantage 2 and a new skills marketplace" (in en). https://www.techtarget.com/searchenterpriseai/news/252498250/Abbyy-releases-Vantage-2-and-a-new-skills-marketplace. 
  5. ↑ "Marlin bets big on Abbyy's digital intelligence initiatives" (in en-US). 2021-05-15. https://venturebeat.com/2021/05/15/marlin-bets-big-on-abbyys-digital-intelligence-initiatives/. 
  6. ↑ "How to inject Intelligent Document Processing into SAP RPA | IDM Magazine". https://idm.net.au/article/0012944-how-inject-intelligent-document-processing-sap-rpa. 
  7. ↑ "ABBYY USA Software House Inc - Company Profile and News". Bloomberg Markets. https://www.bloomberg.com/profile/company/0042157D:US. 
  8. ↑ 8.0 8.1 Adrian Try (2022-07-19). "ABBYY FineReader PDF Review: Is It Worth It in 2023?". Softwarehow. https://www.softwarehow.com/abbyy-finereader-review/. 
  9. ↑ Blinnikova, Natalia (2018-07-04). "ABBYY Founder David Yang on AI, Building a Business and the Meaning of Life" (in ru). https://news.itmo.ru/en/news/7659/. 
  10. ↑ "History of Intelligent Automation and ABBYY Innovations (Infographic)". ABBYY. 2023. https://static3.abbyy.com/abbyycommedia/37719/infographic-intelligent-automation-history-timeline-en.pdf. 
  11. ↑ "Вектор модернизации: обзор обновленного ABBYY FineReader 12" (in ru). https://3dnews.ru/805074. 
  12. ↑ "PwC and ABBYY to deliver digital intelligence solutions in India" (in en). 2019-10-09. https://www.consultancy.in/news/2541/pwc-and-abbyy-to-deliver-digital-intelligence-solutions-in-india. 
  13. ↑ "Marlin bets big on Abbyy's digital intelligence initiatives" (in en-US). 2021-05-15. https://venturebeat.com/2021/05/15/marlin-bets-big-on-abbyys-digital-intelligence-initiatives/. 
  14. ↑ "Marlin completes growth equity investment in ABBYY". Marlin Equity. 2021-05-19. https://www.marlinequity.com/marlin-completes-growth-equity-investment-in-abbyy/. 
  15. ↑ "ABBYY is a US-based, privately-owned software company". ABBYY. https://www.abbyy.com/exits-business-operations-in-russia/. 
  16. ↑ "ABBYY has completely withdrawn from the Russian market" (in en). https://www.abbyy.com/exits-business-operations-in-russia/. 
  17. ↑ "The American company ABBYY dismissed employees with Russian citizenship" (in uk). Radio Liberty. 2024-10-01. https://www.radiosvoboda.org/a/news-abbyy-zvilnyla-spivrobitnykiv-iz-hromadjanstvom-rf/33142470.html. 
  18. ↑ "ABBYY Corporate Headquarters, Office Locations and Addresses". Craft.co. https://craft.co/abbyy/locations. 
  19. ↑ "Tech company with big Ai ambitions plants HQ in Austin". https://www.bizjournals.com/austin/inno/newsletter/37035575. 
  20. ↑ "New India offices". technologymagazine.com. 2024-10-01. https://technologymagazine.com/ai-and-machine-learning/abbyy-expands-into-india-to-capitalise-on-its-ai-demand. 
  21. ↑ Timothy Malcolm (2024-10-12). "Top AI-focused tech company moving HQ from California to Texas" (in en). Chron. https://www.chron.com/business/article/abbyy-california-texas-move-austin-19833442.php. 
  22. ↑ Jeff Bell (2024-10-13). "Tech company ABBYY to relocate headquarters to Austin, Texas" (in en). kvue.com. https://www.kvue.com/article/money/economy/boomtown-2040/abbyy-relocating-austin/269-8d29d0df-315d-4688-9d89-eefe0de3d795. 
  23. ↑ "Ulf Persson, Abbyy USA Software House Inc: Profile and Biography". Bloomberg Markets. https://www.bloomberg.com/profile/person/20780965. 
  24. ↑ "Abbyy открыла сервис автоматической обработки документов для тех, кто не умеет программировать" (in ru). https://www.cnews.ru/news/top/2021-10-12_abbyy_zapustila_servis_dlya. 
  25. ↑ "ABBYY's new no-code AI technology could be a gamechanger" (in en). 2021-03-28. https://healthcare-digital.com/technology-and-ai/abbyys-new-no-code-ai-technology-could-be-gamechanger. 
  26. ↑ "Abbyy releases Vantage 2 and a new skills marketplace". TechTarget. https://www.techtarget.com/searchenterpriseai/news/252498250/Abbyy-releases-Vantage-2-and-a-new-skills-marketplace. 
  27. ↑ "Abbyy looks to RPA to breathe new life into scanning and workflow" (in en-US). 8 November 2018. https://techcrunch.com/2018/11/08/abbyy-looks-to-rpa-to-breathe-new-life-in-to-scanning-and-workflow/. 
  28. ↑ "ABBYY Timeline - Process Mining Software Comparison". Institute of Information Systems. 12 May 2020. https://www.processmining-software.com/tools/abbyy-timeline/. 
  29. ↑ Hainzinger, Brittany. "ABBYY updates machine learning library" (in en-US). https://appdevelopermagazine.com/abbyy-updates-machine-learning-library/. 



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