A Wales-based tech firm has completed a multi-million dollar purchase of a US-based company that pioneered deep web search.
Leading UK technology firm Amplyfi has purchased Deep Web Technologies.
The move will combine Deep Web Technologies' search capabilities with Amplyfi's machine learning and data analytics expeience.
Alongside tripling its revenue over the past 12 months, the acquisition means Amplyfi is set to continue the rapid growth that has defined the company since forming just five years ago.
Chris Ganje, CEO of Amplyfi, said: "We've never thought of ourselves as a start-up. We were always a global enterprise from day one and this acquisition is the coming together of two of the world's most exciting forerunners in deep web data analytics.
In the past five years, Amplyfi has revolutionised business intelligence through our AI-powered analytics platforms. Now, with the added might of Deep Web Technologies, our global success is set to accelerate even faster."
The Internet, as most people know it, currently contains approximately 6.6 billion websites. Yet the Internet is predominantly made up of the 'Deep Web' - not to be confused with the infamous Dark Web.
While the deep web is fundamentally benign it is estimated to be 400-500 times larger than the 6.6 billion websites indexed by Google - that's around 96% of the actual Internet that standard search engines do not access.
Now many companies, from hedge funds to app developers, are now beginning to utilise this hidden data to look to improve their business intelligence.
Deep Web Technologies' bespoke search solutions unlock value from internal sources and the Deep Web. Amplyfi's machine learning and interrogation tools now increase these capabilities to create arguably the most comprehensive deep business intelligence data sets currently available.
Amplyfi says this will enable a client to access open source documents, forecast emerging trends or disruptions, establish correlations and related topics, and then make better decisions driven off unbiased analysis."
The tech firm says that wielding this kind of search power is how it recently helped NatWest Bank to secure the prestigious Risk Credit Portfolio Manager of the Year Award. Amplyfi's bespoke software allowed relationship managers to draw on a wealth of unstructured information from the Deep Web, providing them with unique intelligence on sectoral risks, trends, and opportunities. More than 600 people at the bank now regularly use it.
Abe Lederman, CEO of Deep Web Technologies said: "For some time we've followed and been excited by the work that Amplyfi has been doing – they are shaping the future of data analytics and business intelligence."
Between them Amplyfi and Deep Web Technologies have a client list that includes RBS, Airbus, and BP, alongside Stanford University, Boeing, and the UN.