The leading management consulting firm Accenture has acquired Kogentix, a provider of big data and artificial intelligence (AI) services. Based in Schaumburg, Kogentix helps companies to make better decisions with their data.
By acquiring Kogentix, Accenture will boost its Applied Intelligence business unit in North America. The Accenture Applied Intelligence makes use of AI with deep industry and analytics expertise to help companies embrace intelligent technologies.
Founded in 2015, Kogentix offers technologies that enable enterprises to analyze large volumes of data with more speed and processing efficiency. The company has a team of around 220 big data engineers, data scientists, machine learning engineers, and software developers. This team will join Accenture Applied Intelligence’s team of nearly 6000 IT professionals.
“We founded Kogentix because we knew that big data and machine learning would play a critical role in transforming enterprises. The opportunity to leverage data for better business outcomes has never been this exciting,” said Boyd Davis, CEO and co-founder of Kogentix.
“Becoming part of Accenture Applied Intelligence will allow us to seize a greater share of this market. We’re excited by the scale and scope of projects that will open up to us, as well as the long-term career and growth opportunities for our team.”
The aim of acquisition is to help enterprises harness the open source big data and advanced analytics technologies, so that they can more efficiently identify revenue growth and cost reduction opportunities, said Accenture.
“Open source big data platforms and artificial intelligence are offering companies more opportunities than ever to become data-driven, intelligent enterprises. But marrying these new technologies with their old analytics world is becoming a key challenge for them,” said Narendra Mulani, chief analytics officer, Accenture Applied Intelligence.
“With Kogentix’s assets and highly skilled team of big data and AI professionals, we are even better positioned to help clients realize the value of open source analytics platforms and embed new intelligence at the core of their businesses.”
The financial terms of the deal were not disclosed.