Artificial intelligence company, Acuity, purchases a 550-employee strong AI business based in Bristol and Munich.
Acuity Knowledge Partners, a global research and analytics company, has announced its acquisition of Ascent, an AI-powered digital transformation services provider based in Bristol and Munich. The acquisition, set to complete at the end of the month, aims to expand Acuity's AI and technology-led solutions and strengthen its Data and Technology Services division.
The deal will enable Acuity to deliver from, and into, new markets, including reinsurance, pharma, manufacturing, and retail. This move opens up new opportunities for Acuity, as it seeks to deliver research, data, analytics, and AI-driven services to the financial sector.
Canaccord Genuity and DC Advisory have advised Acuity on the transaction. Stewart Smythe, the CEO of Ascent, a leading European AI company, expressed his excitement about combining Ascent's data and AI capabilities with Acuity's AI innovation and domain expertise.
Ascent, founded two decades ago, currently works with over 170 businesses across Europe and North America. The company, under Smythe's leadership, boasts a team of over 550 specialists in data, software, and cloud.
Meanwhile, in a separate development, Pets at Home, the UK's largest pet care retailer, has announced that its CEO has stepped down. The company has also issued a profit warning, but no specific details about the reasons for these moves were provided in the article.
Elsewhere, Unicorn Octopus Energy has spun off its technology arm, Kraken. The move is expected to further boost Octopus Energy's digital capabilities and market presence.
As the landscape of technology and business continues to evolve, acquisitions and strategic moves such as these are shaping the future of various industries. The acquisition of Ascent by Acuity Knowledge Partners is a testament to the growing importance of AI and digital transformation in driving business growth and innovation.
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