Global technology major Accenture has acquired Byte Prophecy, an automated insights and big data analytics company based in Ahmedabad, to meet the growing demand for enterprise-scale artificial intelligence (AI) and digital analytics solutions across the region.
Financial details of the acquisition were not disclosed.
The buyout will add nearly 50 data science and data engineering experts, with focus on insight automation, to Accenture’s Applied Intelligence team which focuses on scaling AI. Byte Prophecy is expected to strengthen Accenture’s consulting and technology capabilities in areas such as data foundations and advanced analytics.
“Across industries, decision making has become more complex, and businesses are increasingly relying on advanced analytics and AI to ensure insight driven, rapid decision making,” said Piyush N. Singh, India market unit lead & sales lead for growth markets, Accenture. “Beyond advanced technology capabilities, Accenture brings to our clients a co-innovation mindset, and in Byte Prophecy, we found a partner with the right mix of technology and consulting skills, and a client-centric innovation culture.”
Founded in 2011, Byte Prophecy has worked closely with Accenture Ventures since 2018 on open innovation efforts, collaborating and co-innovating with Accenture and its clients in Asia Pacific on advanced data and analytics projects.
“Our team has already been working with Byte Prophecy over the past two years, and together we have helped clients build the strong data foundations that are the cornerstone for successful AI adoption,” said Athina Kanioura, Accenture’s chief analytics officer and global lead for Applied Intelligence.
Accenture, in a statement, said its acquisition strategy involves “delivering on existing, as well as emerging client needs with speed and scale.” Over the past year, the company has made Applied Intelligence acquisitions in Australia, Spain, North America and the UK to enhance its portfolio of technologies and help clients across those markets scale AI.
The article was first published on livemint.com