Indian artificial intelligence company Fractal acquires data analytics services providing firm Neal Analytics. This new acquisition will help Fractal considerably increase its cloud AI offerings.
However, no information was provided by Fractal regarding the valuation of this acquisition deal. This development comes right after Fractal became India’s second company to achieve unicorn status in 2022.
According to the company, this new acquisition will allow Fractal to further strengthen its engineering capabilities on Microsoft’s multi-cloud ecosystems and also enable its customers to scale artificial intelligence and power decisions. The acquisition will enable Fractal to increase its market share across various parts of the world, especially in the Pacific Northwest region and Canada.
Co-founder and group chief executive of Fractal, Srikanth Velamakanni, said while talking about Neal Analytic, “They have built a great client-centric, people-oriented culture, and have an impressive track record of solving and scaling AI engineering challenges, especially on the Microsoft platform, for marquee clients.”
He also mentioned that they are incredibly excited about this new partnership with Neal Analytics. This would help them accelerate their capabilities to power data-driven decisions end-to-end for their Fortune 500-sized clients.
United States-based data analytics company Neal Analytics was founded in 2011 and currently has more than 200 employees working in various parts of the world, including the US, Canada, and India. It specializes in helping companies with digital transformation by converting data into valuable assets using its expertise in machine learning and engineering.
Neal Analytics can solve some of the most complex business challenges and optimize operation across numerous industries using their competence in data science, business intelligence, cognitive service, practical AL, and many more.
“This is an exciting opportunity to empower our people and work alongside like-minded practitioners to transform businesses with cloud, data, and AI. It will enable Neal Analytics and Fractal to grow and achieve more together,” said CEO of Neal Analytics Dylan Dias.