Accenture To Acquire AI Company Flutura

Accenture recently announced its plans to acquire Flutura, an AI company based in Bangalore and Houston, to increase performance in plants, refineries, and supply chains. Flutura specialises in industrial data science services for manufacturers and other asset-intensive companies, with over a hundred employees providing solutions for advanced analytics. Terms and the amount of the deal remain undisclosed.

Flutura was founded in 2012, by Krishnan Raman, Derick Jose, and Srikanth Muralidhara for three major issues in energy and engineering companies: reduction of asset downtime, improvisation of operational efficiency, and increase in asset reliability. Krishnan Raman, chief executive officer at Flutura, said the acquisition will help "more industrial clients achieve high-value outcomes in their production operations."

The acquirer is a global provider of services focused on strategy consulting, digital transformation, technology services and operations. The company is one of the largest consulting firms in the world. Senthil Ramani, senior managing director and Accenture Applied Intelligence lead for Growth Markets, said the acquisition "will power industrial AI-led transformation for their clients globally." 

As per the company’s statement, the acquisition will allow Accenture to bring Flutura's capabilities to clients in the energy, chemicals, metals, mining, and pharmaceutical industries. The startup’s AI platform Cerebra processes data from IT and operations technology systems, which allow development of digital models of industrial assets. This will help in several areas ranging from asset management to energy efficiency outcomes.

According to Accenture research presented at the 2023 World Economic Forum in Davos, companies need to strengthen their AI capabilities to build a digital core. However, most organisations are not AI-mature and have barely scratched the surface of the technology's potential, according to another study.

The Flutura acquisition follows a string of AI acquisitions by Accenture in the past six months.