Private equity firm Vista buying Automated Insights
NEW YORK (AP) -- Private equity firm Vista Equity Partners is buying Automated Insights, a technology company funded by The Associated Press and other investors.
Automated Insights spokesman James Kotecki would not disclose the sale price but said it was more than investors have put in. Automated Insights had raised $10.8 million.
Founded in 2007, the Durham, North Carolina, company creates automated stories about companies' financial results for AP. It also generates content from data for customers including Yahoo and Comcast.
It will be part of Stats LLC, a sports data company Vista bought from AP and Fox Sports last year.
Automated Insights Inc. said Thursday that it hopes to increase use of its technology in areas including sports and business intelligence.
The company says it will keep working with its current customers, including AP. AP says the deal will not affect AP's automated story efforts.