The deal will pave the way for exits of Flutura’s existing investors—Vertex Ventures, Lumis Partners and The Hive, Accenture said in a statement on Tuesday.
Accenture expects Flutura, operated by Flutura Business Solutions Pvt. Ltd, to strengthen its industrial Artificial Intelligence (AI) services to boost the performance of plants, refineries, and supply chains, while also enabling clients to accomplish their net-zero goals faster. The acquisition will be used to serve Accenture’s clients in energy, chemicals, metals, mining, and pharmaceutical industries, it said.
This is at least the third bet by Accenture in the AI domain space in India. Previously, it bought Bridgei2i and Byte Prophecy in 2021 and 2020, respectively.
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