ABBYY

American digital intelligence company

ABBYY

Office of ABBYY in Kyiv, Ukraine

Company type| Private
Founded| 1989
Founder| David Yang[1]
Headquarters|

Austin, Texas

United States

Area served

| Worldwide

Number of employees

| 500 (2023)
Website| abbyy.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

[edit]

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

[edit]

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

[edit]

* 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

[edit]

1. ^ "9 Tips To Manage Remote Teams - HR.com".
2. ^ "ABBYY, Kofax, WorkFusion, and Automation Anywhere are on the Top of Everest Group's PEAK Matrix® for IDP 2022". RPA Master. October 5, 2022. Retrieved April 27, 2023.
3. ^ "AI Giant ABBYY Makes a Power Move: Global Headquarters Shift and Leadership Shakeup". IntentTech. Retrieved October 15, 2024.
4. ^ a b "Abbyy releases Vantage 2 and a new skills marketplace". SearchEnterpriseAI. Retrieved January 4, 2022.
5. ^ "Marlin bets big on Abbyy's digital intelligence initiatives". VentureBeat. May 15, 2021. Retrieved January 4, 2022.
6. ^ "How to inject Intelligent Document Processing into SAP RPA | IDM Magazine". idm.net.au. Retrieved January 4, 2022.
7. ^ "ABBYY USA Software House Inc - Company Profile and News". Bloomberg Markets. Retrieved May 17, 2023.
8. ^ a b Adrian Try (July 19, 2022). "ABBYY FineReader PDF Review: Is It Worth It in 2023?". Softwarehow. Retrieved May 17, 2023.
9. ^ Blinnikova, Natalia (July 4, 2018). "ABBYY Founder David Yang on AI, Building a Business and the Meaning of Life". news.itmo.ru (in Russian). Retrieved August 27, 2023.
10. ^ "History of Intelligent Automation and ABBYY Innovations (Infographic)" (PDF). ABBYY. 2023. Retrieved October 1, 2023.
11. ^ "Вектор модернизации: обзор обновленного ABBYY FineReader 12". 3DNews - Daily Digital Digest (in Russian). Retrieved August 27, 2023.
12. ^ "PwC and ABBYY to deliver digital intelligence solutions in India". www.consultancy.in. October 9, 2019. Retrieved January 12, 2022.
13. ^ "Marlin bets big on Abbyy's digital intelligence initiatives". VentureBeat. May 15, 2021. Retrieved January 20, 2022.
14. ^ "Marlin completes growth equity investment in ABBYY". Marlin Equity. May 19, 2021. Retrieved May 17, 2023.
15. ^ "ABBYY is a US-based, privately-owned software company". ABBYY. Retrieved October 2, 2023.
16. ^ "ABBYY has completely withdrawn from the Russian market". Retrieved October 15, 2024.
17. ^ "The American company ABBYY dismissed employees with Russian citizenship" (in Ukrainian). Radio Liberty. October 1, 2024. Retrieved November 12, 2024.
18. ^ "ABBYY Corporate Headquarters, Office Locations and Addresses". Craft.co. Retrieved May 17, 2023.
19. ^ "Tech company with big Ai ambitions plants HQ in Austin".
20. ^ "New India offices". technologymagazine.com. October 1, 2024. Retrieved October 15, 2024.
21. ^ Timothy Malcolm (October 12, 2024). "Top AI-focused tech company moving HQ from California to Texas". Chron. Retrieved October 14, 2024.
22. ^ Jeff Bell (October 13, 2024). "Tech company ABBYY to relocate headquarters to Austin, Texas". kvue.com. Retrieved October 14, 2024.
23. ^ "Ulf Persson, Abbyy USA Software House Inc: Profile and Biography". Bloomberg Markets. Retrieved May 17, 2023.
24. ^ "Abbyy открыла сервис автоматической обработки документов для тех, кто не умеет программировать". CNews.ru (in Russian). Retrieved January 26, 2022.
25. ^ "ABBYY's new no-code AI technology could be a gamechanger". healthcare-digital.com. March 28, 2021. Retrieved March 11, 2023.
26. ^ "Abbyy releases Vantage 2 and a new skills marketplace". TechTarget. Retrieved May 8, 2023.
27. ^ "Abbyy looks to RPA to breathe new life into scanning and workflow". TechCrunch. November 8, 2018. Retrieved March 11, 2023.
28. ^ "ABBYY Timeline - Process Mining Software Comparison". Institute of Information Systems. May 12, 2020. Retrieved May 17, 2023.
29. ^ Hainzinger, Brittany. "ABBYY updates machine learning library". App Developer Magazine. Retrieved January 26, 2022.

## External links

[edit]

Wikimedia Commons has media related to ABBYY.

* abbyy.com Official website
* "ABBYY USA Software House Inc - Company Profile and News". Bloomberg Markets. Retrieved May 17, 2023.
* Chandni U (May 16, 2021). "Company Closeup: All About ABBYY". Datatechvibe. Retrieved May 17, 2023.
* "ABBYY Archives". Help Net Security. November 2022. Retrieved May 17, 2023.
* "ABBYY - Search Results". worldcat.org. Retrieved May 17, 2023.

Authority control databases

International|

* ISNI
* VIAF

National|

* Germany
* United States
* France
* BnF data