Accenture (NYSE: ACN) has acquired Core Compete, a cloud analytics services firm headquartered in Durham, North Carolina, with additional offices in the UK and India. Financial terms of this acquisition were not disclosed.
Core Compete provides cloud-native solutions that deliver artificial intelligence (AI) and machine learning-infused business outcomes. The cloud analytics company delivers its services to a diverse client base across the US and UK, with particular focus on supply chain, retail and financial services.
Founded in 2012, Core Compete’s team of more than 260 professionals will join Accenture’s Applied Intelligence practice. Accenture hopes it will add to how the company helps clients shape and execute their cloud-based data and AI strategies to drive more business value.
“Over the past year we’ve seen cloud adoption increase, enabling organizations to unlock the enterprise value from data and AI strategy at speed,” said Sanjeev Vohra, global lead for Accenture Applied Intelligence. “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.”
Powered by a deeply skilled group of data science, data engineering and cloud engineering consultants, the majority of whom have skills across all major cloud providers, Core Compete is well-positioned to meet a significant need in the market. Accenture research shows that two-thirds of CxOs are planning to increase spending on AI and over 60 percent will invest more in cloud-based technologies.
“We have always seen the power of cloud analytics and are proud of the client transformations we’ve led over the past nine years,” said Shiva Kommareddi, managing partner at Core Compete. “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.”
This acquisition builds on Accenture’s growing analytics, data and AI business around the world, with the acquisitions of Analytics8 in Australia, Pragsis Bidoop in Spain, Mudano in the UK, Byte Prophecy in India, Sentelis in France, and Clarity Insights and End-to-End Analytics in the US.