IPO contender UiPath extends automation offering with Cloud Elements buy

BERLIN (Reuters) – UiPath, the $35 billion robotic process automation startup tipped as a contender to float on the stock market, said on Tuesday it had acquired U.S. interconnectivity specialist Cloud Elements.

The takeover will enable UiPath to offer an enterprise-grade user interface and automation capabilities based on a single platform, the U.S.-based company with Romanian roots said in a statement.

Terms were not disclosed for the deal, which followed a $750 million funding round last month that valued UiPath at $35 billion – more than three times its valuation in an investment round last July.

Reporting by Douglas Busvine; Editing by Arno Schuetze


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