Multinational corporation Accenture, on Monday (May 18), announced that it has acquired Ahmedabad-based data analytics company Byte Prophecy to meet the growing demand for enterprise-scale artificial intelligence (AI) and digital analytics solutions across India.
Piyush N Singh, Accenture India’s market unit lead and sales lead for growth markets, said that as decision making has become more complex for businesses they are relying on advanced analytics and AI solutions to ensure driven, rapid decision making.
With this acquisition, Accenture will strengthen its existing consulting and technology capabilities. Besides this, it will also add nearly 50 data science and data engineering experts to the Accenture Applied Intelligence team.
“Beyond advanced technology capabilities, Accenture brings 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,” Singh added.
The deal will not only allow Byte Prophecy to become a part of Accenture Applied Intelligence, it will also help them jointly build stronger assets and expand its services to more clients in the emerging markets.
The details of the deal have not yet been disclosed.
Founded in 2011 by Mrugank Parikh, Adityavijay Rathore, Darshit Shah and Manish Patil, Byte Prophecy has been “closely” working with Accenture and its clients in Asia Pacific regions since 2018 on several innovations, collaborations and other advanced data and analytics operations.
Byte Prophecy cofounder, Parikh, highlighted that its experience with Accenture has helped the company understand customer pain points in a better manner and also fine-tune its solutions to cater to the customer needs more effectively.
“We are excited about our journey ahead and are looking forward to exploring the wide opportunities this union will bring to our people and clients,” he added.
According to data from Hampleton Partners’ IT and business service merger and acquisitions report, Accenture was the top acquirer of the companies with over 53 deals in the last 30 months till March 2020. The company acquired 24 companies in 2019, noting a 50% increase from its acquisitions in 2018.
This year, it has acquired firms like France-based IT company Gekko, Italy-based management consulting company Nike Group, US-based cybersecurity firm Revolutionary Security and others. Accenture has also worked with several Indian startups through several programmes like FinTech Innovation Lab Asia-Pacific, the scalerator programme, Accenture Ventures and Microsoft’s ThinkNext 2018.
The scalerator programme was a joint venture between Accenture, the Consulate General of Israel to South India, and the National Association of Software and Services Companies to enhance the collaboration between Israeli and Indian startups.
So far Accenture has partnered with more than 75 Indian startups, which includes computer vision startup Uncanny Vision, customer experience company MintM and AI-based conversational engagement platform Yellow Messenger, which recently announced $20 Mn Series B fundraising.