Accenture has agreed to acquire Mudano, a strategic data consultancy to U.K. financial services firms, further enhancing its analytics, data and artificial intelligence transformation capabilities.
Mudano’s team of industry-focused data professionals will join Accenture Applied Intelligence, which employs more than 20,000 professionals worldwide who help clients scale AI, including 6,000 data scientists, data engineers and AI professionals.
Founded in 2014 and headquartered in London, with a presence in Edinburgh, Scotland, Mudano uses advanced analytics, applied data science and modern data technologies to help the U.K.’s largest banks, insurers and wealth management firms transform key areas, such as customer behavior analytics, financial crime-prevention and intelligent data management.
“In the U.K., 87% of businesses are still struggling with how to scale artificial intelligence to deliver business value — and financial services is no exception,” said George Marcotte, a managing director at Accenture who leads its Applied Intelligence group in the U.K. & Ireland.
“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.”
Ed Broussard, Mudano CEO, added, “Accenture’s reputation for excellence and large-scale delivery will enable us to help clients realise the benefits of data transformation — from setting the strategy and building the culture to leveraging the game-changing insights that data analytics can bring.
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“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.”
In its 2019 fiscal year, Accenture invested nearly US$1.2 billion on 33 acquisitions globally to acquire critical skills and capabilities in strategic, high-growth areas of the market.
Completion of the acquisition is subject to customary closing conditions. Terms of the transaction have not been disclosed.