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Patrizia AG akquires stake in Cognotekt

 Cognotekt |   01.10.2019

PATRIZIA AG, a global partner for pan-European real estate investment, has acquired a strategic stake in Cognotekt. The investment aims to further enhance the company’s operational and corporate data management processes with Cognotekt’s unique natural mind-mapping natural language technology (NLP) Wernicke®. It was identified within a global and cross industrial technology scouting process analysing more than 1,000 promising solutions. Cognotekt remains independent and owner managed.

PATRIZIA AG has been active as an investment manager in the real estate market across Europe for more than 35 years managing more than EUR 41 billion of real estate assets today. With the stake in Cognotekt, PATRIZIA AG enhances its technological ecosystem with state-of-the-art AI for document classifcation and information extraction, yielding much higher accuracy than commonly available NLP solutions.

The investment follows an investment in document management specialist Evana AG taken in 2018. Both companies, Cognotekt and Evana, will work together as independent partners building a market-leading document and data management platform for the real estate industry.

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.”

To find this perfect match, PATRIZIA’s Technology & Innovation team set up a global and cross industry scouting process where more than 1,000 promising solutions were analysed. After completing a successful pilot project, PATRIZIA decided to adopt Cognotekt’s technology thanks to its unique scientific approach.

PATRIZIA acquired a minority stake in Cognotekt. Founder and CEO Dr. Jobst Landgrebe remains responsible for all strategic and operational decisions. All projects will be continued as before.

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