Accenture buys Data Analytics and AI Services firm, Mudano

Accenture has acquired London based Mudano to enhance it's Data Analytics and Artificial Intelligence (AI) transformation capabilities. The financial terms of transactions were not disclosed.

Founded in 2014, London based Mudano leverages advanced analytics, applied data science and modern data technologies for the digital transformation of their clients. The company's client base is spread across U.K.’s largest banks, insurers and wealth management firms. These firms use Mudano's services to transform key areas, such as customer behavior analytics, financial crime-prevention, and intelligent data management.

Executive Opinion

Managing Director at Accenture, Applied Intelligence group in the U.K. & Ireland, George Marcotte, said, "Our research shows that U.K. businesses are struggling with how to scale technologies like artificial intelligence to deliver business value – and financial services is no exception. Mudano’s focus on helping clients build a ‘data culture’ aligns perfectly to Accenture’s Applied Intelligence strategy. By creating a strong data foundation – supported by the right skills, stakeholders and technologies – our clients can transform at speed and scale and fuel real change for their business."

Mudano CEO, Ed Broussard, said, "Accenture’s reputation for excellence and large-scale delivery will enable us to help clients realize the benefits of data transformation – from setting the strategy and building the culture to leveraging the game-changing insights that data analytics can bring. We are excited to become part of one of the world’s leading companies and look forward to the opportunities this will bring for our employees and clients."

Accenture and Mudano

Data advisory expertise and technology solutions from Mudano will be a valuable addition to Accenture’s existing AI capabilities.

Modano's team will be part of the Accenture Applied Intelligence unit employing 6,000 data scientists, data engineers, and AI professionals. Accenture Applied Intelligence has witnessed many acquisitions like Clarity Insights, Pragsis Bidoop, and Analytics8, further enhancing its ability to meet growing client demand in the U.S., Spain, and Australia, notes the announcement.

Accenture has already shelled around US$1.2 billion on 33 acquisitions globally in the year 2019.
The acquisition is subject to customary closing conditions.