US-based technology consultant and software developer Brillio has acquired data analytics startup Marketelligent. Raj Mamodia, chief executive at Brillio, confirmed the deal, but declined to reveal the purchase price.
“It (Marketelligent) was like a marriage partner that we were looking for,” said Mamodia. “We looked harder and spoke to at least 20 companies.” The 100 employees of Bangalore-based Marketelligent will now join Brillio, which is headquartered in New Jersey. For now, Marketelligent will continue to function with the same name.
Mamodia said Brillio has earmarked $70 million (Rs 429 crore) to acquire niche companies in the emerging technologies space and also take equity stakes. “There are capabilities that will take time to build and we didn’t want to waste three years to build that–time to market is very important,” said Mamodia, a former head of global markets at Cognizant and ex-CEO of IT services firm Collabera.
IIM-Ahmedabad alumnus Cherian teamed with IIT-Delhi grad Anunay Gupta to start Marketelligent with a focus on data analytics in 2008. The team juggles big data to share insights and patterns about information it collects with clients in retail, energy, banking and healthcare. Clients that receive the data can then use predictive analysis to make the most of their resources.
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With a team of 100, the company handles some top brands such as Dell, Coca Cola, American Express, and and a host of other companies. All of the company’s staff will join New Jersey-headquartered Brillio but remain in India.
Brillio was created in 2013 as a spin-off from the former Collabera IT Solutions business unit. Mamodia had joined Collabera back in 2012 as its CEO. The company provides software products and technology consulting services to customers in the technology, financial, retail and energy sectors.
It employs over 8,000 professionals across 25 offices and four delivery centres in the US, the UK, Singapore, Philippines, and India. After this acquisition, Marketelligent will gain access to Brillio’s rich clientele.