Bechtle acquires stake in Planet AI

• Bechtle invests in German deep-learning specialist
• AI solutions unlock intelligent document analysis for Bechtle customers
• Patented AI developments complement Bechtle portfolio

Neckarsulm, 02 October 2023 – Bechtle AG has acquired a 51 per cent stake in Rostock-based AI company Planet AI GmbH. First established in 2015 as a spin-out of Planet intelligent systems GmbH, the company has since been active in the field of deep learning and creating solutions for intelligent document analysis and process automation. Boasting a number of international awards, the AI specialist partners with research institutions and universities, but also IT manufacturers such as IBM. Planet AI currently employs 41 people, mainly in R&D and focusing on its proprietary AI platform, PlanetBrain, which builds on patented core technology and is itself the foundation for the company’s intelligent document analysis software, IDA. The AI-powered solution is used in logistics, traffic surveillance, banking and insurance, healthcare, and archiving. With its majority stake, Bechtle aims to pair use-case-oriented AI research with the extensive marketing capabilities of Germany’s largest IT system house, while mounting a joint effort to bolster Europe’s AI ecosystem and take a leading role in future innovation. Despite its focus on R&D, Planet AI brought in a revenue of 3.1 million euros in the past fiscal year.

"As a future-first IT partner, we always seek to drive and sustain our customers’ success through future-oriented technologies," says Michael Guschlbauer, COO, IT System House & Managed Services, Bechtle AG. "With Planet AI’s innovative developments, we strengthen the core business processes of our customers through excellent AI applications."

Planet AI management to remain on board
Planet AI’s leadership team, including its founders, will remain aboard the company following a slight reshuffle that saw Jesper Kleinjohann take the helm as Planet AI’s CEO, replacing Hagen Wustlich who will switch to the company’s advisory board. Welf Wustlich will continue in his role as CTO. Brothers Hagen and Welf Wustlich have a more than 30-year background in artificial neural networks, founding Planet intelligent systems as early as 1992, which would eventually spawn Planet AI. “We knew that our developments are top notch but we were short a partner who could accelerate our growth with broad market access and is able to deploy our solutions at scale. Bechtle has both these things, and a determination to tap into the enormous capabilities of AI for business,” says Jesper Kleinjohann, CEO, Planet AI.

Deep learning is Planet AI’s home turf
Planet AI is an internationally renowned specialist in deep learning, a subset of machine learning that relies heavily on the use of artificial neural networks. Its core product is a multifunctional software platform with leading accuracy over competitive solutions, enabling companies to automate the processing of hand and machine-written documents, receipts and other text, as well as classify document types and harvest information. Other use cases include image and voice recognition.

Bechtle’s stake in Planet AI is not subject to approval by competition authorities. The purchase price is to remain confidential as is customary. Bechtle has a call option to acquire the remaining 49 per cent of shares in the company.