Arteria AI acquires FS business assets from H4


Digital enterprise documentation specialist Arteria AI has agreed to acquire the financial services business assets of the H4 contract lifecycle management platform.

Arteria AI uses context-specific AI, data, analytics and automation to help its banking clients accelerate their large-scale client documentation processes.

The Toronto-based company was formed last year by Deloitte, where it was known as dTrax, and has since raised US $ 11 million in funding.

Today, he doubles the stake by buying the FS assets of H4, a rival backed by Goldman Sachs, JP Morgan and Barclays.

As part of the deal, H4 president and co-founder Joe Seifert will join the Arteria AI team as a senior advisor.

Shelby Austin, CEO of Arteria AI, said, “It is a strategic decision for us to acquire certain financial services assets from H4 to expand our reach and energize our efforts. Joe Seifert will bring invaluable experience and expertise to our team.

“We look forward to working together to provide an unmatched, data-driven client documentation solution for global financial institutions. ”

Rob Fagg, CEO, and Andy Byrne, COO, have agreed to a management buyout of H4, continuing their roles and becoming co-founders of the new company, which will focus on the corporate market outside of banking. Seifert will remain a minority shareholder.

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