Global IT major Accenture announced an agreement to acquire Bengaluru-based analytics and artificial intelligence (AI) firm BRIDGEi2i, which has offices in the United States and Australia.
The acquisition will add more than 800 deeply skilled professionals to Accenture’s Applied Intelligence practice, the company said in a press release on October 11.
The takeover of BRIDGEi2i will strengthen Accenture's global capabilities in data science, machine learning and AI-powered insights, the statement said.
The financial terms of the transaction were, however, not disclosed by the company.
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Notably, BRIDGEi2i, founded in 2011, specialises in data-driven digital transformation for companies across industries and global markets by combining data engineering, advanced analytics, proprietary AI accelerators and consulting services.
According to an Accenture research report, organisations that are stepping up investments in technologies such as AI and cloud are growing revenue at five times the rate of those not making these strategic investments.
“The COVID-19 pandemic has made technologies such as AI core to business success, with scaled investments enabling enterprises to thrive by refocusing on growth during the most disruptive time in their history,” said Sanjeev Vohra, global lead for Accenture Applied Intelligence.
“In this rapidly evolving space, constantly building new capabilities is key, and we believe that BRIDGEi2i will further enhance our AI skills and data science capabilities to strengthen how our global network delivers value for clients," Vohra added.
Prithvijit Roy, chief executive officer and co-founder, BRIDGEi2i, said, “The digital enterprise of the future is being reimagined today with AI."
“We are excited to join Accenture and believe that our people and approach will complement their capabilities and help us scale up our impact across industries," Roy added.
This acquisition will augment Accenture’s growing analytics, data and AI business around the world, joining the acquisitions of Analytics8 in Australia, Pragsis Bidoop in Spain, Mudano in the UK, Byte Prophecy in India, Sentelis in France, and Clarity Insights, End-to-End Analytics and Core Compete in the US.
Completion of the acquisition is subject to customary closing conditions, the company noted.