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Accenture acquires Byte Prophecy to enhance AI, digital analytics capabilities

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Press Trust of India  |  New Delhi 

Professional services firm Accenture on Monday said it has acquired Ahmedabad-based IT company Byte Prophecy to meet the growing demand for enterprise-scale artificial intelligence (AI) and digital analytics solutions across the region.

Financial terms of the acquisition were not disclosed.

The acquisition will add nearly 50 data science and data engineering experts, with a particular focus on insight automation, to Accenture Applied Intelligence, the company said.

The move will deepen existing consulting and technology capabilities that help clients in areas such as data foundations and advanced analytics.

Accenture's market unit lead for India and sales lead for Growth Markets Piyush N Singh said the decision making across industries has become more complex, and businesses are increasingly relying on advanced analytics and AI to ensure insight driven, rapid decision making.

"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 said.

Founded in 2011, Byte Prophecy has worked closely with Accenture Ventures since 2018 on open innovation efforts, collaborating and co-innovating with Accenture and its clients in Asia Pacific on advanced data and analytics projects.

Accenture has already been working with the Byte Prophecy over the past two years, Accenture's chief analytics officer and global lead for Applied Intelligence Athina Kanioura said.

"The opportunity to become part of Accenture Applied Intelligence will enable us to jointly build stronger assets and expand our services to more clients in the emerging markets," Byte Prophecy co-founder Mrugank Parikh said.

Accenture's acquisition strategy involves delivering on existing, as well as emerging client needs with speed and scale, the statement said.

"Over the past year the company has made Applied Intelligence acquisitions in Australia, Spain, North America and the UK to enhance its portfolio of technologies and help clients across those markets scale AI," it added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, May 18 2020. 11:58 IST