SAP acquires Prior Labs for over €1 billion, 18 months after founding
SAP has acquired German-founded AI company Prior Labs in a deal valued at over €1 billion. Prior Labs pioneered tabular foundation models, AI systems designed for enterprise structured data that can solve prediction tasks like payment delays, churn, and demand forecasting without requiring separate models for each dataset. The company's technology is already being used by Hitachi to prevent train failures and by TD for financial forecasting.