Escher acquires Finnish AI specialist Syslore

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Technology developer Escher has announced the acquisition of Helsinki-based Syslore to bring AI-powered services to its post and parcel clients.

The partnership will enable Escher to further reduce posts’ processing time, sorting time and costs through a powerful, machine-learning-based optical character recognition (OCR) engine to increase mail and parcel automation; a platform to digitize the collection of customs, duties and taxes (CDT) and customer contact data to reduce the cost of cross-border compliance; mail and parcel sort-to-light solutions to increase the speed and reduce the cost of manual sorting; and an AI-powered, web-based video coding system to reduce the cost of resolving sorting exceptions.

Reducing operating costs and improving efficiency are critical to post and parcel organizations across the globe. With parcel volumes set to double over the next five years, automation efficiency has never been more important.

Brody Buhler, CEO of Escher Group, said, “Taking advantage of e-commerce-driven parcel revenue while managing the associated costs is a constant challenge. That is why we are so excited to welcome Syslore to Escher Group. Their differentiated solutions reduce manual sorting of parcels and mail and, where still required, make manual sorting faster and more efficient. This is the next step in our continued effort to empower posts to harness e-commerce growth and deliver omnichannel experiences from the first to the last mile.”

Henri Tykkä, Syslore CEO, who will join Escher with the acquisition, said, “We are thrilled to join Escher Group. Leveraging our joint expertise to scale solutions like packet scanning, route-ready sorting, and customs, duty and tax (CDT) digitization will help ensure that all communities have convenient access to cost-effective cross-border packet and parcel services.”

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Dan originally joined Parcel and Postal Technology International in 2014 having spent the early years of his career in the recruitment industry. As online editor, he now produces daily content for the website and supports the editor with the publication of each exciting new issue. When he’s not reporting on the latest technological developments, Dan can be found on the golf course or apprehensively planning his next DIY project.

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