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Appian Acquires Lana Labs

Cloud computing and enterprise software company Appian Corporation (APPN) has announced the acquisition of Lana Labs, a process mining software company. The terms of the deal have not been disclosed so far.

Following the news, shares of the company remained unchanged and closed at $119 in the extended trading session.

The buyout will combine Appian’s prowess in low-code process modeling and automation with Lana’s expertise in machine learning algorithms to offer customers a complete low-code automation suite.

The CEO of Appian, Matt Calkins, said, “There is natural synergy between process mining, process modeling, and automation. We believe that our acquisition of Lana Labs means that only Appian will be able to take customers from knowing to doing, in a unified suite.” (See Appian stock chart on TipRanks)

Two days ago, Needham analyst Jack Andrews reiterated a Buy rating on the stock with a price target of $186, implying 79.9% upside potential from current levels.

The Wall Street community is cautiously optimistic about the stock with a Moderate Buy consensus based on 2 Buys and 3 Holds. The average Appian price target of $119 implies that the stock has upside potential of 15.1% from current levels. Shares have gained 106% over the past year.

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Pathikrit Bose
I have close to two years of experience in the field of financial content writing and equity research covering various industries including technology, finance and healthcare among others. I have cleared the CFA Level 1 exam and am on the path to becoming a CFA Charterholder. I have also completed my graduation with an Honours degree in Accounting and Finance from Calcutta University. In my spare time, I like to watch sports, documentaries, TV shows, listening to music and podcasts.