|[March 20, 2023]
Accenture to Acquire Industrial AI Company Flutura
Accenture (NYSE: ACN) has agreed to acquire industrial artificial intelligence (AI) company Flutura, headquartered in Bangalore, India. Flutura will strengthen Accenture's industrial AI services to increase the performance of plants, refineries, and supply chains while also enabling clients to accomplish their net zero goals faster. Accenture plans to bring Flutura's capabilities to clients in the energy, chemicals, metals, mining, and pharmaceutical industries. Terms of this deal were not disclosed.
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Accenture has agreed to acquire industrial AI company Flutura. (Graphic: Business Wire)
Flutura's approximately 110 professionals specialize in industrial data science services for manufacturers and other asset-intensive companies. Its AI platform provides self-service solutions for advanced analytics. The solutions help process, asset management and reliability engineering teams assess, predict, and improve the asset performance, reliability, throughput and energy efficiency outcomes of production and manufacturing facilities. Industrial engineers and data scientists can also quickly develop digital models of industrial assets on Flutura's AI platform, which processes data from disparate IT and operations technology systems.
Senthil Ramani, senior managing director and Accenture Applied Intelligence lead for Growth Markets, said: "Flutura democratizes AI for engineers, enabling manufacturing and other asset-intensive companies with the carbon intelligence to reduce emissions, energy consumption and lost output due to unplanned downtime of industrial assets. This acquisition will power industrial AI-led transformation for our clients globally and particularly in Australia, South-East Asia, Japan, Africa, India, Latin America and the Middle East."
Krishnan Raman, chief executive officer at Flutura, added: "Our AI platform enables engineers to respond with agility to everchanging market and operating conditions. We look forward to scaling this as part of Accenture and helping more industrial clients achieve high-value outcomes in their production operations."
Companies need strong AI capabilities to build a digital core and become more successful, according to research Accenture presented at the 2023 World Economic Forum in Davos. Another Accenture study found that most companies are not very AI-mature and have barely scratched the surface of the technology's potential.
With Flutura, Accenture continues to build its data and AI capabilities for clients. Last year, it acquired data science company ALBERT in Japan. Other recent AI acquisitions include Analyics8 in Australia; Sentelis in France; Bridgei2i and Byte Prophecy in India; Pragsis Bidoop in Spain; Mudano in the UK; and Clarity Insights, End-to-End Analytics and Core Compete in the US.
Completion of the acquisition is subject to customary closing conditions.
Accenture is a leading global professional services company that helps the world's leading businesses, governments and other organizations build their digital core, optimize their operations, accelerate revenue growth, and enhance citizen services-creating tangible value at speed and scale. We are a talent and innovation led company with 738,000 people serving clients in more than 120 countries. Technology is at the core of change today, and we are one of the world's leaders in helping drive that change, with strong ecosystem relationships. We combine our strength in technology with unmatched industry experience, functional expertise and global delivery capability. We are uniquely able to deliver tangible outcomes because of our broad range of services, solutions and assets across Strategy & Consulting, Technology, Operations, Industry X and Accenture Song. These capabilities, together with our culture of shared success and commitment to creating 360° value, enable us to help our clients succeed and build trusted, lasting relationships. We measure our success by the 360° value we create for our clients, each other, our shareholders, partners, and communities. Visit us at www.accenture.com.
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