Cohere acquires, merges with Germany-based startup to create a ‘transatlantic AI powerhouse’

Cohere, the Canada-based enterprise AI unicorn, announced Friday that it would merge with the Germany-based enterprise AI company Aleph Alpha.

The deal, which has yet to close, will value the newly formed company at $20 billion, the FT reported. Schwarz Group, one of Aleph Alpha’s top backers, will also invest $600 million in Cohere’s Series E round, which is expected to close later this year, CNBC reported.