Accenture Acquires Core Compete, Expands Capabilities and Talent in AI-powered Supply Chain, Cloud and Data Science
Accenture (NYSE: ACN) has acquired Core Compete, a cloud analytics services firm based in North Carolina, enhancing its Applied Intelligence practice. Core Compete specializes in AI and machine learning, focusing on sectors like supply chain and finance. The acquisition aims to bolster Accenture's capabilities in cloud-based data strategies amid rising AI and cloud technology investments by CxOs. Founded in 2012, Core Compete's team of 260 experts will drive faster data transformation for clients, further establishing Accenture's presence in the analytics market.
- Acquisition strengthens Accenture's cloud analytics and AI capabilities.
- Core Compete's expertise enhances Applied Intelligence practice.
- Acquisition addresses increasing demand for AI and cloud solutions.
- Transaction terms were not disclosed, raising concerns over financial impact.
- Integration of Core Compete's team may pose organizational challenges.
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. Core Compete enables digital transformations with cloud-native solutions that deliver artificial intelligence (AI) and machine learning-infused business outcomes, to serve a diverse client base across the US and UK, with particular focus on supply chain, retail and financial services. Terms of the transaction were not disclosed.
Founded in 2012, Core Compete’s team of more than 260 professionals will join Accenture’s Applied Intelligence practice, strengthening how the company helps clients shape and execute their cloud-based data and AI strategies to drive more business value.
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.
“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.”
“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, 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.
About Accenture
Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 537,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at www.accenture.com.
Applied Intelligence is Accenture’s approach to scaling AI for clients by embedding AI-powered data, analytics and automation capabilities into business workflows, accelerating time to value with a powerful global alliance, innovation and delivery network that can deploy and scale AI within any market and industry. To learn more, visit www.accenture.com/appliedintelligence.
Forward-Looking Statements
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