Why Accenture (ACN) Is Buying Byte Prophecy

By Amit Chowdhry ● May 18, 2020
  • Accenture Plc (NYSE: ACN) announced it has acquired Byte Prophecy, which is an automated insights and big data analytics company based in Ahmedabad, India

Accenture Plc (NYSE: ACN) announced it has acquired Byte Prophecy, which is an automated insights and big data analytics company based in Ahmedabad, India to meet the growing demand for enterprise-scale AI and digital analytics solutions across the region. The financial terms of the deal were undisclosed.

This acquisition will add nearly 50 data science and data engineering experts with a particular focus on insight automation to Accenture Applied Intelligence. And the move will deepen existing consulting and technology capabilities that help clients in areas such as data foundations and advanced analytics.

Accenture’s Applied Intelligence is Accenture’s approach to scaling artificial intelligence for its clients. How does it work? Accenture embeds AI-powered data, analytics, and automation capabilities into business workflows to accelerate time to value.

The company’s expertise in defining end-to-end strategy, combined with deep data infrastructure capabilities, cognitive services, and industrialized accelerators help smooth clients’ path to artificial intelligence adoption, extending human capabilities, and supporting clients in scaling artificial intelligence responsibly.

Launched in 2011, Byte Prophecy worked closely with Accenture Ventures since 2018 on open innovation efforts, collaborating and co-innovating with Accenture, and its clients in the Asia Pacific on advanced data and analytics projects.

Accenture’s acquisition strategy involves delivering on existing as well as emerging client needs with speed and scale. And over the past year the company has made Applied Intelligence acquisitions in Australia, Spain, North America, and the U.K. to enhance its portfolio of technologies and help clients across those markets scale artificial intelligence.

Key Quotes:

“Across industries, decision making has become more complex, and businesses are increasingly relying on advanced analytics and AI to ensure insight-driven, rapid decision making,” said Piyush N. Singh, Accenture’s market unit lead for India and sales lead for Growth Markets. “Beyond advanced technology capabilities, Accenture brings our clients a co-innovation mindset, and in Byte Prophecy we found a partner with the right mix of technology and consulting skills, and a client-centric innovation culture.”

– Piyush Singh, Managing Director, Head of Financial Services Asia Pacific and Africa at Accenture at Accenture

“Our team has already been working with Byte Prophecy over the past two years, and together we’ve helped clients build the strong data foundations that are the cornerstone for successful AI adoption. Officially making Byte Prophecy’s people and capabilities part of Accenture is a testament to the shared vision of shared success we’ve seen in our joint efforts.”

– Dr. Athina Kanioura, Chief Analytics Officer and Global Head of Applied Intelligence at Accenture

“Our experience working with Accenture has helped us better understand customer pain points and fine-tune our solution to respond with greater agility to clients’ needs. The opportunity to become part of Accenture Applied Intelligence will enable us to jointly build stronger assets and expand our services to more clients in the emerging markets. We are excited about our journey ahead and are looking forward to exploring the wide opportunities this union will bring to our people and clients.”

– Mrugank Parikh, co-founder of Byte Prophecy