US-based technology consultant and software developer Brillio has acquired data analytics startup Marketelligent. The news was confirmed by Raj Mamodia, chief executive at Brillio, however he declined to share any financial details of the deal.
Speaking in relation to the said deal Mamodia said “It (Marketelligent) was like a marriage partner that we were looking for. We looked harder and spoke to at least 20 companies.”
With this acquisition, privately-held Brillio will integrate Marketelligent’s 100 employees into Brillio’s Analytics Practice to deliver sophisticated analysis and detailed interpretation of data to improve business performance across consumer-focused industries including Banking, CPG, Retail, Telecom, Energy and Media.
Brillio is a global technology consulting ﬁrm focused on leveraging emerging technologies for innovation and application modernization in the Banking & Finance, Utilities, CPG, Retail, Technology, Media and Entertainment Industries. The company has earmarked $70 Mn to acquire niche companies in the emerging technologies space and also take equity stakes.
“There are capabilities that will take time to build and we didn’t want to waste three years to build that–time to market is very important,” said Raj Mamodia.
Founded by IIM-Ahmedabad alumnus Roy Cherian and IIT Delhi graduate Anunay Gupta, Marketelligent has built a solution that mines hidden insights, patterns and correlations from Big Data, or vast of amounts of information.It then helps customers such as computer maker Dell, beverage company Coca Cola and credit card issuer American Express make better decisions using data visualization and predictive analytics.
“The Brillio and Marketelligent portfolio of solutions will facilitate the elevation of predictive analytics to new levels, creating a stronger platform designed to deliver innovation and business growth,” stated Roy Cherian, co-founder and CEO, Marketelligent.
“We are pleased that in addition to our deep advanced analytics services enabled by business sense, we will be able to offer to our customers Brillio’s digital transformation capabilities in areas such as digital consulting, big data and cloud.”