Artificial intelligence company, Acuity, expands its portfolio by acquiring a 550-strong business based in Bristol and Munich.
In a significant move, Acuity Knowledge Partners, a leading provider of research, analytics, and data management services, has agreed to acquire Ascent, an AI-powered digital transformation service provider based in Bristol and Munich.
The acquisition is set to complete at the end of the month and is expected to significantly expand Acuity's reach into new sectors such as reinsurance, pharma, manufacturing, and retail.
Robert King, the Chief Executive Officer of Acuity, expressed his excitement about the acquisition, stating that it will further enhance Acuity's ability to offer innovative AI-led solutions. Acuity has built a fast-growing practice delivering data management and technology-led services and solutions, and this acquisition is intended to strengthen its Data and Technology Services division.
Ascent, founded two decades ago, currently employs over 550 specialists in data, software, and cloud. The company works with over 170 businesses across Europe and North America. Stewart Smythe, CEO of Ascent, is excited about combining Ascent's market-leading data and AI capability in Europe with Acuity's industry-leading AI innovation and deep domain expertise.
The acquisition is expected to allow Acuity to assist clients with digital transformations and AI adoption at a higher level. It also opens up new markets for Acuity, providing opportunities to deliver research, data, analytics, and AI-driven services to the financial sector from, and into, these new territories.
Meanwhile, in unrelated news, Octopus Energy has spun off its technology arm, Kraken.
Elsewhere, Pets at Home CEO has stepped down, and the company has issued a profit warning. These developments are not directly related to the Acuity-Ascent acquisition.
Ascent was advised on the transaction by Canaccord Genuity, while Acuity was advised by DC Advisory. The acquisition is expected to be a strategic move that will position Acuity as a key player in the AI and technology-led solutions market.
Read also:
- Ford Discontinues Popular Top-Seller in Staggering Shift, Labeled as a "Model T Event"
- 2025 Witnesses a 27% Surge in Worldwide Electric Vehicle Sales, Despite Opposition to Electrification Policies in the U.S.
- Summarized Report: Insights from the Realm of Transportation
- Recorded surge in electric vehicle registrations during the initial half of the year
