L40 advises Elipse.ai on sale to Runtime Enterprises

L40° said it advised Chilean AI company Elipse.ai in its acquisition by Canadian holding company Runtime Enterprises, marking Runtime’s first investment in Latin America. The deal gives Elipse.ai long-term backing for international expansion as North American buyers increasingly target Latin American software companies.

Why it matters: - Runtime Enterprises’ first investment in Latin America signals growing cross-border demand for established software and AI businesses in the region. - Elipse.ai gains long-term backing to expand internationally and invest further in artificial intelligence. - The deal adds another example of North American buyers competing for Latin American technology companies with recurring revenue and room to scale.

What happened: - L40° served as exclusive M&A advisor to Elipse.ai in its acquisition by Runtime Enterprises Inc. - The transaction closed as a multi-million-dollar deal, but the financial terms were not disclosed. - Elipse.ai will keep its brand, management team and operational independence after the acquisition. - Runtime Enterprises is a Canadian software holding company focused on acquiring and holding software and technology-enabled services businesses for the long term.

The details: - Elipse.ai is a Chilean artificial intelligence company that builds conversational AI agents for voice, telephony and WhatsApp. - The company serves more than 100 enterprise clients across seven countries, with a strong presence in healthcare. - Elipse.ai’s platform combines generative AI voice agents, enterprise telephony, WhatsApp and messaging to automate inbound and outbound customer conversations. - The technology supports appointment scheduling and confirmations, contact campaigns and automated call handling. - Elipse.ai manages more than 20 million appointments annually. - The company’s technology is used by healthcare institutions serving approximately 25% of Chile’s Fonasa beneficiary population. - Elipse.ai currently operates in Chile, Peru, Colombia, Mexico, Argentina, Venezuela and Spain. - Elipse.ai and Runtime are targeting more than US$10 million in annual recurring revenue during 2027. - L40° completed more than 180 technology transactions and operates from Miami, Madrid and Lisbon.

Between the lines: - The deal reflects a broader shift as international software holding companies expand acquisition searches into Latin America. - L40° is seeing growing interest from software holding companies, strategic acquirers and financial buyers evaluating Latin American businesses with recurring revenue and established customer bases. - Elipse.ai drew interest from both strategic and financial buyers and generated multiple letters of intent, including from Latin American parties, before choosing Runtime. - Buyer fit mattered as much as price, with strategic priorities, geographic ambitions, available capital and ownership models shaping the outcome. - International buyers often pay close attention to scaling potential, customer concentration, revenue retention and corporate structure. - For companies operating across multiple jurisdictions, clean legal entities, intercompany relationships and transfer-pricing documentation can be important in diligence. - “A transaction happens when buyer thesis, seller objectives and timing coincide. When one of the three is missing, nothing else will fix it,” said Manuel Amor, Partner at L40° and lead advisor on the transaction.

What's next: - Elipse.ai will use Runtime’s backing to support international expansion and continued investment in AI capabilities. - The company and Runtime are aiming to push annual recurring revenue above US$10 million in 2027. - Elipse.ai will continue operating under its existing leadership and identity while gaining resources from its new owner.

The bottom line: - The acquisition underscores how Latin American software companies with proven revenue and cross-border potential are attracting more international buyers.