The year seems to be a good one for the Indian startups, apart from funding activities a number of acquisitions too have taken place which not only includes startups acquired by Indian companies but also global startups acquiring startups in the Indian startup ecosystem.
Raj Mamodia, chief executive at Brillio, has confirmed the development but however he declined sharing the financial details of the deal.
Founded in 2007 by IIM-Ahmedabad alumnus Roy K Cherian and IIT Delhi graduate Anunay Gupta, Marketelligent has positioned itself as a data analytics company servicing the retail, banking, energy and healthcare verticals. It helps businesses make the leap from basic reporting to predictive analysis. The startup has built a solution that mines hidden insights, patterns and correlations from Big Data, or vast of amounts of information helping its clients make better decisions using data visualization and predictive analytics.
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“It (Marketelligent) was like a marriage partner that we were looking for.. We looked harder and spoke to at least 20 companies,” says Raj Mamodia.
The 100 employees of Marketelligent will now join Brillio, which is headquartered in New Jersey.
Brillio is a global technology consulting ﬁrm focused on leveraging emerging technologies for innovation and application modernization in the Banking & Finance, Utilities, CPG, Retail, Technology, Media and Entertainment Industries. The company has earmarked $70 Mn to acquire niche companies in the emerging technologies space and also take equity stakes. “There are capabilities that will take time to build and we didn’t want to waste three years to build that–time to market is very important,” said Raj Mamodia.
A few other Indian startups that have been acquired by global firms include: