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Accenture Acquires Core Compete

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Accenture, one of the largest IT companies in the world, acquires Core Compete, a cloud analytics service company based in Durham, North Carolina, with additional branches in the UK and India. Founded in 2012, the platform is expected to enter the Applied Intelligence practise of the company with a team of over 260 experts, will reinform and help its customers define and implement the company’s cloud-base data and Artificial Intelligence (AI) solutions to increase their value.

In order to sustain a broad customer base in the US and UK with special emphasis on the supply chain, banking and financial services, Core Compete will offer technology transformations with cloud-based applications that provide AI and Machine-Learning (ML) infused market results. Transaction terms have not been revealed.

This acquisition will help probe growth in areas such as analytics, data and AI businesses of the company on a universal level, with the acquisitions of Analytics8 in Australia, PragsisBidoop in Spain, Mudano in the UK, Byte Prophecy in India, Sentelis in France, and Clarity Insights and End-to-End Analytics in the US.

“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”, said Shiva Kommareddi, Managing Partner, Core Compete.

Accenture’s analysis suggests that two-thirds of CxOs are expecting to grow AI investment and that more than 60 percent are investing in cloud technology. Core Compete is ideally placed to satisfy substantial industry needs, supported by a highly skilled network of data science, data engineering and cloud technology consultants, most with expertise across all major cloud providers.

“We have always seen the power of cloud analytics and are proud of the client transformations we’ve led over the past nine years”, added Kommareddi.

“Over the past year we’ve seen cloud adoption increase, enabling organizations to unlock the enterprise value from data and AI strategy at speed. 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”, said Sanjeev Vohra, global lead for Accenture Applied Intelligence.

As for the company, in the last two years, Core Compete has been its eighth applied intelligence acquisition. So far this year, it has seen a flourish of M&A operation. In January, Brazil's Real Protect security business was revealed and, days later, Argentina's native cloud and agile software company Wolox was acquired. The company's first Cloud First business unit was supposed to be supported by the Wolox agreement. In three years, it expects to spend $3 billion to allow consumers to enter the cloud and digitise businesses.

Software as a service, platform services and consumer migration into Cloud Infrastructure and Apps, Accenture bets it will increase its cloud turnover more quickly. On February 2, it acquired Businet System, a Tokyo-based business specializing in e-commerce cloud systems for apparel and apparel customers. The same day, the technology giant also revealed the acquisition of the Future State and the acquisition is focused on the improvement of Accenture's staff in the field of creativity and advising.

“Over the past year we’ve seen cloud adoption increase, enabling organizations to unlock the enterprise value from data and AI strategy at speed. 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”, said Sanjeev Vohra, global lead for Accenture Applied Intelligence.

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