Global IT services firm, Accenture said on Tuesday that it will acquire a Bengaluru-headquartered Artificial intelligence (AI) and data analytics firm, BRIDGE i2i. Accenture has not disclosed the value of the transaction which will also result in addition of 800 skilled professionals to the IT MNC. This is also the 9th AI and data analytics acquisition of Accenture.
The acquisition, according to Accenture, is aimed to strengthen and scale up its global capabilities in data science, machine learning, and AI-powered insights. The IT services sector has seen further consolidation since the onset of the pandemic with top industry leaders focusing on Mergers and Acquisitions (M&As) to strengthen their deep tech capabilities in this high demand environment.
A recent research by Accenture stated that the 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. “As the pandemic intensified, leaders doubled down on their tech investments. When the pandemic began, they scaled their investments in key technologies such as cloud and AI. This helped them not only absorb impacts quickly but also refocus on growth. According to our 2021 global survey of 4,300 executives, companies compressed transformation by investing in these digital technologies at historic rates to respond to both new operational challenges and rapidly shifting customer demands,” the report stated.
Prithvijit Roy, chief executive officer and co-founder, BRIDGEi2i, said that the digital enterprise of the future is being reimagined today with AI.
“At BRIDGEi2i, we believe in diving into the heart of business challenges and driving transformation in its truest sense for our clients by combining our AI capabilities with our digital consulting expertise. 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,” he added.
Founded in 2011, BRIDGEi2i 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. It helps enterprises drive insights for faster and more accurate decision-making, thereby, enabling shorter time to value.
“BRIDGEi2i is a great example of India's prowess in digital skills. Its specialised AI capabilities combined with Accenture’s ability to innovate at scale will power our clients’ digital reinvention journeys across the globe,” said Rekha M. Menon, chairperson and senior managing director, Accenture in India.
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