Atul Jalan-led AI co Algonomy seeks to buy Lankan tech firm Linear Squared

Deal value not disclosed; Linear Squared is a cloud-based tech company specialised in building demand planning and forecasting products for CPG, grocery retail industry and other industries

Algonomy, the artificial intelligence company led by serial entrepreneur Atul Jalan, announced its intent to acquire the business of Colombo-based Linear Squared, a cloud-based technology company specialized in building demand planning and forecasting products for CPG, grocery retail industry and other target industries. The proposed acquisition is subject to corporate and regulatory approvals.  The companies didn’t reveal the value of the transaction.

Linear Squared (Pvt.) Ltd. specializes in developing SaaS products leveraging on a combination of cutting-edge technologies including cloud platform and statistical models to deliver solutions to business problems across multiple domains including CPG, grocery retail, Apparel, FMCG, financial