- Technology-driven strategy provides enhanced services for clients
- EVANA’s document and data management platform already manages EUR 70 bn AuM for pan-European investment managers
- Unique and innovative AI solution from Cognotekt will refine the joint platform
Augsburg, 1 October 2019. PATRIZIA AG, the global partner for pan-European real estate investment, announces that it has acquired a strategic stake in Cognotekt, a Cologne based artificial intelligence platform that has developed a unique technological approach for state-of-the-art Natural Language Processing. This method translates written text into mathematical formulas to classify documents and extract data with higher accuracy than common AI solutions.
This investment was identified within a global and cross industrial technology scouting process where already more than 1,000 promising solutions have been analysed by PATRIZIA’s global Technology & Innovation team. After completing a successful pilot project, PATRIZIA decided to adopt Cognotekt’s scientific technology to further enhance its operational and corporate data management processes in collaboration with EVANA. PATRIZIA invested in EVANA during the data management service provider’s last financing round in 2018. Such solutions are part of the overall strategy to make the PATRIZIA portfolio, our partners as well as the whole real estate industry, resilient against external disruption.
With the stake in Cognotekt, PATRIZIA is further pursuing its strategy to foster the collaboration of leading start-ups to leverage, amongst others, its AI competence and to create additional value for clients, as well as the whole real estate industry. With this latest investment, PATRIZIA will further accelerate EVANA on its way to become the leading document and data management platform. EVANA, as service partner, already manages EUR 70 billion AuM for pan-European investment managers.
Dr. Manuel Käsbauer, Head of Technology & Innovation at PATRIZIA, commented: “We see AI as an important tool to improve our processes, performance and transparency. We identified Cognotekt as an ideal match, since its approach perfectly complements EVANA’s. Both companies will provide an outstanding solution for document data and process driven management for our partners and the whole real estate industry.”
This transaction follows the joint investment with HIH and KGAL in control.IT in May 2019 – the market leader for asset and portfolio management software in the German-speaking region. These strategic acquisitions are part of PATRIZIA’s technological ecosystem and contribute towards driving higher levels of efficiency, quality and transparency for the benefit of the company’s clients.
PATRIZIA AG has been active as an investment manager in the real estate market across Europe for more than 35 years. PATRIZIA’s activities include the acquisition, management, repositioning and sale of residential and commercial real estate through its own licensed investment platforms. As a global partner for pan-European real estate investment, PATRIZIA operates as a respected business partner of large institutional investors and retail investors in all major European countries. PATRIZIA manages more than EUR 41 billion of real estate assets, primarily as an investment manager for insurance companies, pension fund institutions, sovereign funds, savings and cooperative banks and as co-investor. For further information, please visit www.patrizia.ag
Head of Corporate Communications
Phone: +49 (0) 821 5 09 10-6 55