Clearsight Advisors, Inc. (“Clearsight”) is pleased to announce another successful transaction in its Big Data and Digital Transformation practices. Clearsight served as the exclusive strategic and financial advisor to Kogentix in its acquisition by Accenture (NYSE: ACN). This transaction reiterates Clearsight’s position as the leader in advising high-end consulting firms serving the big data, machine learning, and digital transformation landscapes.
Krishna Nimmagadda, President and Co-Founder of Kogentix, said of working with Clearsight, “After interviewing several investment banks, we selected Clearsight Advisors as the exclusive financial advisor for Kogentix because of their expertise in advanced data analytics and AI. Clearsight is fluent in the nuances of big data and analytics, digital transformation, and machine learning, and they were an invaluable partner in finding the right buyer for Kogentix. Clearsight executed a thorough and competitive M&A process while simultaneously helping us navigate the complex intricacies of a rapidly growing business, which added significant value to the M&A transaction, and is outside the scope of most investment banks. We appreciate the Clearsight team’s relentless work ethic, sound advice throughout the process, and would absolutely recommend them to anyone evaluating a financial transaction.”
Kogentix is known for its focus on “practical AI fueled by big data” and is a company that endeavors to help enterprises make better decisions with their data. Kogentix is headquartered in Schaumburg, Ill., and was founded in 2015. With a team of nearly 220 data engineers, data scientists, machine learning engineers, and software developers, the company has locations in Pleasanton, CA, Hyderabad, Bangalore, Singapore, and Jakarta. Its clients include technology, high-tech, healthcare, consumer goods, and financial services companies.
The acquisition of Kogentix will strengthen Accenture’s growing data engineering business of their Applied Intelligence division and is in line with their talent bench of more than 6,000 data and AI professionals. Companies are increasingly looking to harness open source big data and advanced analytics technologies to support revenue growth and cost reduction opportunities across the enterprise. To support them, Accenture Applied Intelligence applies artificial intelligence and human ingenuity at the core of the business to help clients solve their most complex business problems.
“The exceptional team that Boyd, Jai, Krishna, and Sanjay have built will be an ideal addition to Accenture Applied Intelligence’s growing data engineering business. Kogentix’s ability to build revolutionary machine learning applications for enterprises will further accelerate Accenture’s AI engine. The Kogentix owners are a very high integrity hardworking group. We are proud and honored to have supported Kogentix in realizing their strategic and financial goals,” commented Gretchen Frary Seay, Co-Founder and Managing Director of Clearsight Advisors.
Philo Tran, Head of Clearsight Advisors’ Digital Transformation practice, added “Kogentix’s rapid growth and ability to spur innovation in the field of machine learning is unprecedented. We were consistently impressed with the entire Kogentix team and can’t wait to follow their next chapter.”