Coinbase Acquires AI Platform Agara For $40M - $50M - Coinbase Global (NASDAQ:COIN)

Coinbase Global Inc (NASDAQ:COIN) acquired AI-powered support platform Agara. Agara has operations in India and the U.S.
The size of the deal is $40 million - $50 million, TechCrunch reports.
The acquisition reinforces Coinbase's commitment to delivering world-class customer support and brings Agara's deep expertise in machine learning (ML) and natural language processing (NLP) to Coinbase's engineering team.
It also reconfirms Coinbase's strategy to continue to build out its tech hub in India.
Coinbase plans to leverage Agara's powerful Deep Learning and Conversational AI technology to automate and enhance its customer experience (CX) tools.
Coinbase held $4.4 billion in cash and equivalents as of June 30.
Price Action: COIN shares closed higher by 2.03% at $337.70 on Monday.

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