Accenture has acquired Durham-headquartered Core Compete, a cloud analytics services firm, for an undisclosed amount. With the acquisition, Accenture aims to strengthen its cloud analytics and AI capabilities.
Accenture research showed two-thirds of CxOs have plans to increase spending on AI and over 60 percent would invest more in cloud-based technologies, making the acquisition of Core Compete a timely move.
Founded in 2012, Core Compete is powered by a deeply skilled group of data science, data engineering and cloud engineering consultants, which Accenture is looking to tap into. Further, Core Compete has a stronghold in the cloud market and is well-positioned to meet a significant need in the market.
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The deal will give Accenture access to more than 260 seasoned and experienced professionals from Core Compete. They will join Accenture’s Applied Intelligence practise to help execute its cloud-based data and AI strategies to drive more business value. Applied Intelligence is Accenture’s approach to scaling AI for clients by embedding AI-powered data, analytics and automation capabilities into business workflows.
With offices in the UK and India, Core Compete enables digital transformations with cloud-native solutions that deliver artificial intelligence and machine learning-infused business outcomes. It serves a diverse client base across the US and UK, with a particular focus on supply chain, retail and financial services.
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“Over the past year we’ve seen cloud adoption increase, enabling organizations to unlock the enterprise value from data and AI strategy at speed,” said Sanjeev Vohra, global lead for Accenture Applied Intelligence. “Core Compete’s approach to cloud analytics transformation helps us further accelerate time to value for our clients, giving them the right tools, strategy and talent to reap the full benefits of being data-driven.”
“We have always seen the power of cloud analytics and are proud of the client transformations we’ve led over the past nine years,” said Shiva Kommareddi, managing partner, Core Compete. “Accenture’s investment in cloud and focus on AI as an exponential source of value is exactly what we need to help broaden our impact across new markets and industries and deepen our impact with clients.”
Over the last few years, Accenture has acquired companies such as Analytics8, Byte Prophecy, Clarity Insights and End-to-End Analytics.