Nov 21 (Reuters) – Australia’s AI agency Appen (APX.AX) stated Tuesday it’s mulling the sale of a component or complete of its enterprise.
The machine studying and knowledge options supplier stated that it has obtained no proposals for a deal up to now however is open to have interaction with potential counterparties.
Appen, which was one of many world’s largest AI coaching suppliers, has applied a raft of cost-saving initiatives and has seen its govt crew being completely changed during the last two years.
The corporate on Tuesday introduced an fairness increase of A$30-million ($19.52 million), aimed toward boosting its working capital.
It additionally introduced a further $14 million of price discount, boosting its cost-saving initiatives this 12 months to $60 million.
Appen’s income and gross revenue fell over 29% and 32% to $223 million and $80 million, respectively, for the ten months ending Oct. 31, 2023.
($1 = 1.5366 Australian {dollars})
Reporting by Nausheen Thusoo in Bengaluru; Enhancing by Mrigank Dhaniwala
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