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Accenture is all set to acquire Flutura. Accenture is an IT and Consulting Company that is soon going to acquire an Artificial Intelligence Tech Company ‘Flutura’.
On Tuesday, Ireland based IT and Consulting firm Accenture revealed that it was all set to acquire Bengaluru based AI firm Flutura. Deal size was not disclosed during the announcement.
Why Accenture Acquire Flutura?
Flutura is an Artificial Intelligence firm in Bengaluru that specializes in industrial data science services. Production and Manufacturing businesses form a major share of its existing clientele. Accenture’s spokespersons have said that the deal shall help Accenture in expanding its services in the field of industrial data science services which shall in turn help their production and manufacturing based clients reach their net zero goals rapidly. This shall in turn help in preserving the environment.
“Flutura’s acquisition shall improve Accenture’s Artificial Intelligence based Industrial Data Science services. This will improve the performance of refineries and manufacturers in achieving their net zero goals rapidly.”, Accenture said in a statement. Here the top indian tech companies training employees in ai.
Flutura currently has more than 110 professionals that specialize in AI based Industrial Data Science Services. Industrial engineers and data scientists can also quickly develop digital models of industrial assets on Flutura’s AI platform, which processes data from disparate IT and operations technology systems.
Accenture will Acquire flutura for plans to provide AI based Industrial Data Science Services to clients in Metal, Pharmaceutical, Mining, Energy and Chemical industries in order to expand its business.
“Flutura works for democratizing Artificial Intelligence for engineers. This acquisition shall help us in empowering the Industrial AI led transformation for our clients around the world, especially in South East Asia, Africa, India, Middle East and Latin America.”, the spokespersons at Accenture said.
Similarly, Accenture had acquired a Japan based data science firm ‘ALBERT’.
Accenture has also recently acquired Australia based ‘Analytics8’. France based firm ‘Sentelis’, India based firm ‘Byte Prophecy’ and ‘Bridgei2i’, Spain based firm ‘Pragsis Bidoop’, United Kingdom based firm ‘Mudano’ and USA based firm ‘Clarity Insights’, ‘End-to-End analytics’ and ‘Core Compete’ are among the other businesses Accenture had recently acquired.
Terms, conditions, contracts and size of the deal were not revealed by Accenture.
“Assets and infrastructure rich businesses shall benefit from the deal as it will help them reduce their carbon emissions by carbon intelligence services. Subsequently, wastage of output and energy consumption shall be pruned. This shall clearly help in saving costs.”, said one of the officials close to the deal.
The deal is expected to build reliable systems which shall be useful in asset management, saving costs, predicting and improving asset performance, improving energy efficiency and optimizing manufacturing processes. The deal shall improve asset management techniques and proper utilization of resources without leading to any wastage on the productions and manufacturing front of mass manufacturing businesses and units.
The Asia-Pacific region constitutes the largest chunk of Accenture’s AI services’ clientele which constitutes of about 70% of the whole. Regions which include EMEA, North America and Latin America contribute 15%, 10% and 5% respectively to Accenture’s AI Services clientele.
Bengaluru-based ‘Flutura’ was established in 2012. It was founded by founders Krishnan Raman, Derick Jose, and Srikanth Muralidhara. The company had raised $8.5 million in investment. It was also a part of Microsoft Accelerator in Bengaluru. lead investors of Flutura are HPE Digital Catalyst program, Vertex Ventures, Hitachi High-Technologies and Lumis Partners.
Conclusion
This deal between Accenture and Flutura is aimed at improving the quality of AI based Data Science Services. Accenture aims to expand its operations in new industries and regions around the world. The deal also has an environmental aspect wherein manufacturers and producers shall be helped in meeting their net zero objectives rapidly.
