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Accenture Acquires Byte Prophecy to Enhance AI, Digital Analytics Capabilities In Emerging Markets

By Saumya Srivastava      21 May, 2020 07:34 PM      0 Comments
Accenture Acquires Byte Prophecy to Enhance AI, Digital Analytics Capabilities In Emerging Markets

Accenture recently announced the acquisition of Ahmedabad- based Byte Prophecy, dealing in automated insights and big data analytics on Tuesday (May 24, 2020). The acquisition is said to be in line with the growing demand for enterprise-scale artificial intelligence and digital analytics that the company aims to capitalize upon in the coming time.

Byte Prophecy, founded in 2011, has worked closely with Accenture since 2018 on innovation efforts.

The acquisition is purported to add 50 data science experts and data engineering experts, with a specific focus on insight automation, to Accenture’s Applied Intelligence. Byte Prophecy is anticipated to bolster the Dublin-headquartered firm’s existing consulting and technology capabilities in areas like data foundation and advanced analytics. 

In a statement, Accenture said its acquisition strategy entails delivering on existing, along with emerging client needs with speed and scale.

Over the years, Applied Intelligence acquisitions have been made by the firm in Australia, Spain, North America, and the UK in order to enhance its portfolio of technologies and help clients across markets scale AI. 

Byte Prophecy was founded by Mrugank Parikh, Adityavijay Rathore, Darshit Shah, and Manish Patil in 2011. The firm was a part of Microsoft’s Highway to Hundred Unicorns, an initiative where 54 startups from tier 2 cities were selected by the company to strengthen their ecosystems.

Byte Prophecy’s flagship application MonitorFirst, consistent with its website, is used by consulting firms to improve key performance indicators (KPI) such as maximizing machine utilization and reducing batch waiting times in a factory.

Accenture’s Marketing Unit Lead for India and Sales Lead for Growth Markets, Piyush N. Singh said, “Beyond advanced technology capabilities, Accenture brings our clients a co-innovation mindset, and in Byte Prophecy we found a partner with the correct mixture of technology and consulting skills, and client-centric innovation culture.”

Co-founder, byte prophecy, Mrugank Parikh said, “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 for our people and clients.”

The financial details of the acquisition haven’t been revealed.

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