Accenture announced on Tuesday that it was acquiring Flutura, a provider of internet of things (IoT) and data science services, for an undisclosed sum to expand its industrial AI services sold under the banner of Applied Intelligence.
The acquisition is significant because the Asia Pacific region accounts for 70% of Accenture’s Applied Intelligence offering, according to Gartner. Other regions contribute 15%, 10%, and 5%, respectively, to EMEA, North America, and Latin America.
According to a Gartner analysis conducted in 2022, Accenture also leads the industrial AI services market, followed by Deloitte. The market research firm predicts that the data and analytics (D&A) services market will reach $232 billion globally by the end of 2024.
Accenture provides data-led transformation services, as well as AI-based solutions branded as Solutions, as part of its Applied Intelligence services. AI. Other services include consulting and ensuring the responsible deployment of AI solutions.
According to a joint statement, Accenture intends to bring Flutura’s capabilities to clients in the energy, chemicals, metals, mining, and pharmaceutical industries.
Flutura’s capabilities include the AI platform Cerebra, which enables self-service analytics from disparate IT systems or data sources, as well as solutions for process, asset, and energy management.
Flutura’s core product offerings include connected assets, connected processes, Vision Intelligence, and Engineer’s Workbench.
Flutura, based in Bengaluru, was founded in 2012 by Derick Jose, Krishnan Raman, and Srikanth Muralidhara. The company, which has raised $8.5 million in funding, was a participant in the Microsoft Accelerator in Bengaluru. HPE Digital Catalyst, Vertex Ventures, Hitachi High-Technologies, and Lumis Partners are among its early investors.