MSFT Stock Down 0.69% on Tuesday, Microsoft Acquires Robotics Automation Firm Softomotive

On May 20, 2020 at 8:25 am UTC by Bhushan Akolkar · 3 min read
MSFT Stock Down 0.69% on Tuesday, Microsoft Acquires Robotics Automation Firm Softomotive
Photo: World Economic Forum / Flickr

Using Softomotive’s tools and integrating them with its PowerAutomate platform, Microsoft plans to up its game in the process-automation industry. MSFT stock was down on Tuesday.

While the coronavirus pandemic has already pushed the world on the edge of a global recession, even the top tech giants were not averse to the massive market crash of 2020. However, they have now started consolidating their positions with new acquisitions and future plans. On Tuesday, May 19, tech and computing giant Microsoft Corporation (NASDAQ: MSFT) announced that it’s acquiring a robotic-process automation company Softomotive. Although the terms of the deal weren’t disclosed, Microsoft said that it will integrate Softomotive’s operations with the company’s own RPA offering, Power Automate. However, MSFT stock hasn’t reacted positively to teh news.

Power Automate is part of Microsoft’s Power Platform that facilitates tools to build useful applications without need high-end technical skills. On the other hand, Softomotive has worked on automating tasks in Windows application through its WinAutomation software. Besides, it serves over 9000 global customers to automate business processes using modern desktop applications. In the official blog post, Microsoft corporate vice president Charles Lamanna wrote:

“Together with Power Automate, WinAutomation will provide customers additional options for RPA desktop authoring so anyone can build a bot and automate Windows-based tasks. The combined offering will also enable RPA connectivity to many new apps and services including SAP and traditional green-screen terminal applications”.

Microsoft to Integrate Power Automate with Softomotive Tools

As said earlier, Microsoft will use Softomotive’s tools to unlock new capabilities. This will help Power Automate to expand its footprint in desktop automation tools. Besides, Softomotive’s flagship application ProcessRobot which tackles the server-based RPA development will also integrate with Power Automate. Softomotive CEO and co-founder Marios Stavropoulos, wrote:

“One of our most distinguishing characteristics, and an indelible part of our DNA, is an unswerving commitment to usability. We have always believed in the notion of citizen developers and, since less than two percent of the world population can write code, we believe the greatest potential for both process improvement and overall innovation comes from business end users.

This is why we have invested so diligently in abstracting complexity away from end users and created one of the industry’s most intuitive user interfaces – so that non-technical business end users can not just do more, but also make deeper contributions by becoming professional problem solvers and innovators. We are extremely excited to pursue this vision as part of Microsoft.”

MSFT Stock

On Tuesday closing, Microsoft (MSFT) stock was trading at a price of $183.63. It means that the stock lost around 0.69% yesterday. But today in the pre-market, it has managed to enter the green zone. Now it is 0.20% up, at $184.

After hitting a 2020-low of $135 in March’s last week, the stock has appreciated steadily. With $1.39 trillion valuations, Microsoft has recently overtaken Apple Inc (NASDAQ: AAPL) to become the largest company by market cap.

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Bhushan Akolkar
Author: Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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