Bridgepoint-backed Qualitest acquires AlgoTrace

Qualitest acquired AlgoTrace from its balance sheet. The acquisition of AlgoTrace is expected to enhance Qualitest's current artificial intelligence offering.

The firm acquired a majority stake in Qualitest in July 2019. Bridgepoint is currently investing from Bridgepoint Europe VI, which closed on €5.7bn in 2017.

Company
Founded in 2015, AlgoTrace is based in Petach Tikva, Israel, and employs eight people, according to LinkedIn. The company offers artificial intelligence and machine learning to produce predictive analytics software.

People
Qualitest – Norm Merritt (CEO); Aviram Shotten (chief knowledge, innovation officer).
AlgoTrace – Ron Ritter (CEO).

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