WORK-RELAY software acquisition strengthens Neostella capabilities across $860 Billion Hyper automation market¹

Rhea-AI Summary

Neostella, a Milwaukee-based hyperautomation company, has signed an agreement to acquire Work-Relay, a Chicago-based SaaS provider specializing in cloud-based workflow automation. Founded in 2020, Neostella has grown rapidly, employing over 100 people across five countries. This acquisition aims to enhance Neostella's automation capabilities, particularly by integrating Work-Relay's technology, which offers Salesforce-native solutions. With the hyperautomation market projected to reach $860B by 2027, this strategic move is expected to strengthen Neostella's position as a comprehensive automation vendor.

Positive

• Acquisition aims to enhance automation capabilities and service offerings.
• Integration with Work-Relay's Salesforce-native technology addresses the needs of 150,000 Salesforce customers.
• Positioning in a rapidly growing hyperautomation market projected to grow at 12.3% CAGR through 2027.

Negative

• None.

MILWAUKEE--(BUSINESS WIRE)-- Neostella, a global hyperautomation company headquartered in Milwaukee, WI announced today that it has signed an agreement to acquire Chicago, IL-based Work-Relay, a next-generation Business Process Management software that provides cloud-based workflow automation capabilities across complex business processes and projects.

Founded in 2020, Neostella, which provides business consulting, automation, and implementation services, has grown to over 100 employees with offices in five countries while quickly expanding its range of services.

With a rapidly growing number of companies adopting enterprise-wide automation initiatives that includes Robotic Process Automation (RPA), cloud-based application integration services (iPaaS), and custom application development, intelligent Business Process Management Suites (iBPMS) serve as the platform to coordinate them. Adding to existing partnerships with RPA vendor UiPath (NYSE: PATH) and IPaaS vendor Workato, the acquisition of Work-Relay enables Neostella to add powerful workflow automation to their comprehensive set of offerings. Among the very few providers equipped with a full suite of business automation capabilities, Neostella offers a convenient, single-vendor option for organizations looking to drive efficiency by building or scaling end-to-end automation practices.

“Work-Relay's technology, client success, and personnel are the perfect fit with Neostella given our vision to help clients achieve operational excellence through hyperautomation,” commented Matt Lautz, Founder and CEO of Neostella. “Work-Relay’s native Salesforce integration combined with Neostella’s experience within the Salesforce ecosystem fulfills an opportunity to address the needs of 150,000 Salesforce customers who seek the benefits of automation without the hassle of complex development,” said Lautz.

The acquisition reinforces Neostella’s ability to deliver even broader value to the $860B hyperautomation market, projected by Gartner to grow at 12.3% CAGR through 2027. “Work-Relay has grown from a custom SaaS application to an Enterprise Work Automation platform serving thousands of users in public and private enterprises across four continents,” said Kramer Reeves, CEO of Work-Relay, who, along with his team, will join Neostella. Work-Relay clients include large enterprises as well as small and mid-size companies who use Work-Relay software to automate work, empower workers, and achieve operational excellence when faced with complex, time-sensitive business operations, processes, and projects.

There are few conditions to be satisfied before closing, and therefore Neostella and Work-Relay expect closing to occur within a few weeks.

About NEOSTELLA

Neostella is a global automation consulting, implementation, and custom development firm that takes a customer-centric approach to automation services. Neostella works closely with their clients to identify opportunities for better efficiency, refine processes, and create solutions designed to meet unique business needs. With office locations in North America, South America, Europe, and Asia, Neostella’s global team offers ongoing 24/7 support, ensuring long-term success after their clients go-live.

About WORK-RELAY

Work-Relay is a global SaaS development company based in the US with operations across four continents. Work-Relay offers a comprehensive business process management (BPM) solution natively built on Salesforce for digitizing, managing, and optimizing complex business operations to achieve operational excellence.

¹ Gartner, Forecast Analysis: Hyperautomation Enablement Software, Worldwide, 2021.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220929005215/en/

Media Contact:

Lisa Bevington, Media Relations

Neostella

+1 414 403-6082

lisa.bevington@neostella.com

Source: Neostella

FAQ

What is the purpose of Neostella's acquisition of Work-Relay?

The acquisition aims to enhance Neostella's automation capabilities by integrating Work-Relay's workflow automation technology.

How does the acquisition benefit Neostella's clients?

It provides clients with comprehensive automation solutions, specifically Salesforce-native capabilities, without complex development.

When is the expected closing date for the acquisition of Work-Relay?

Neostella and Work-Relay expect to close the acquisition within a few weeks, pending the satisfaction of certain conditions.

What is the projected growth of the hyperautomation market?

The hyperautomation market is projected to grow to $860B by 2027, with a CAGR of 12.3% according to Gartner.