Nintex has added Kryon – the robotic process automation (RPA) company with process discovery capabilities.
Kryon was a Niche Player in the Gartner’s July 2021 RPA Magic quadrant. Its Automation Suite includes Kryon Studio, Kryon Console, process discovery, and analytics capabilities. Their key positioning is the usage of process discovery to recommend the best path for you to improve and automate processes. They also have a free process discovery that was released last September.
This seems to be part of the consolidation in the RPA space and move towards what Gartner calls Hyperautomation. “Joining forces with Nintex is an amazing opportunity to take a huge leap toward changing the automation market, from pure automation execution centric to business process understanding and automation,” says Kryon CEO Harel Tayeb.
Kryon is Nintex’s first acquisition under its new majority investor TPG. Nintex had acquired K2 Software in Oct. 2020 to strengthen its digital process automation (DPA) capabilities. PE players are very active in the Automation space and TPG is now consolidating its Automation portfolio. Recently, TPG Capital had acquired a majority investment in Nintex for a staggering USD 2 Bn+ from Thoma Bravo. TPG was also eyeing Blue Prism though it finally ended up with SS&C.
Nintex is a great asset for PE players. With an extremely strong revenue profile, Nintex is among the top companies in Intelligent Automation. It has 10,000 customers across 90+ countries, with wide market access through 800+ implementation and consulting partners. The company already serves over 50% of the Fortune 500 enterprises. So, Kryon RPA seems to have found a great place to grow into the emerging Intelligent Automation space.