Research Solutions (NASDAQ: RSSS), a Henderson, NV-based company providing cloud-based workflow solutions, acquired scite, a NYC-based search and discovery platform.
The amount of the deal was not disclosed.
The acquisition further enhances Research Solutions’ product offerings and provides cross-selling opportunities to scite’s B2C customer base of approximately 21,000 active subscribers, as well as its diverse B2B customer base of corporate entities, academic institutions, and government agencies.
Established in 2018 by Josh Nicholson, CEO, scite is a startup that works on how researchers discover and evaluate research through Smart Citations. Smart Citations transcend conventional references by offering in-text sentences, citing relevant sections, and providing a classification that denotes either support or contrast to the cited claim. Its solutions equip researchers worldwide in various career stages. scite’s Smart Citations go beyond traditional citations by displaying citation statements, their context within citing articles, and a classification to indicate whether the paper supports or contradicts the cited claim. Powering a suite of research features, this index of over one billion Smart Citations assists in discovering, vetting, and understanding research articles. Furthermore, scite Assistant, an AI-powered chatbot, utilizes Smart Citations to fact-check and validate Large Language Models like ChatGPT, ensuring a trustworthy, transparent, and evidence-based “ChatGPT for research.”
As of October 31, 2023, the annualized value of scite’s B2C and B2B software subscriptions, some of which are monthly and some annual, is $3.6 million.
Led by CEO Roy W. Olivier, Research Solutions provides cloud-based technologies to streamline the process of accessing, managing, and creating intellectual property. Since its founding, the company has been a pioneer in developing solutions to serve researchers. Today, more than 70 percent of pharmaceutical companies, universities, and emerging businesses use its products, empowered by AI and NLP technologies, to support the innovation process from end to end with a comprehensive information and knowledge tools on the market.
FinSMEs
28/11/2023