Accenture to acquire Bengaluru-based industrial artificial intelligence (AI) startup Flutura. The deal is expected to help Accenture expand its capabilities in the industrial AI space and strengthen its position in the Indian market.
Flutura, founded in 2012, specializes in developing industrial AI applications for customers in the energy, manufacturing, and engineering industries. Its AI solutions are designed to help customers optimize their operations, reduce downtime, and improve their overall efficiency. The company has been recognized by several industry analysts for its innovative solutions and has received funding from prominent investors such as Vertex Ventures and Lumis Partners.
Under the terms of the agreement, Flutura’s team will join Accenture’s Applied Intelligence practice, which provides AI and analytics solutions to clients across various industries. The acquisition will allow Accenture to leverage Flutura’s expertise in industrial AI and expand its offerings to clients in India and around the world.
Commenting on the acquisition, Sanjay Podder, managing director of Accenture Labs in India, said, “With Flutura’s industrial AI solutions, Accenture will be better equipped to help our clients harness the power of AI to drive business outcomes. This acquisition will enable us to expand our capabilities in the industrial AI space and help us deliver even more value to our clients.”
Krishnan Raman, CEO of Flutura, added, “We are excited to join Accenture and bring our expertise in industrial AI to the company’s global network. This is a great opportunity for us to scale our solutions and help more clients in India and around the world achieve their business goals through the power of AI.”
The acquisition of Flutura is the latest move by Accenture to expand its AI capabilities and strengthen its position in the Indian market. In 2020, the company acquired Byte Prophecy, another Indian AI startup, and launched a new Applied Intelligence Studio in Mumbai.
The deal is subject to regulatory approval and is expected to close in the coming months. Financial terms of the acquisition were not disclosed.
In conclusion, the acquisition of Flutura by Accenture is expected to bring significant benefits to both companies. For Accenture, it will provide access to Flutura’s industrial AI solutions, while for Flutura, it will allow the company to scale its offerings and reach more clients around the world. With the global market for industrial AI expected to grow significantly in the coming years, this acquisition positions Accenture well to capitalize on the trend and drive further growth in the industry.