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LatentView Analytics acquires 70% stake in Decision Point for $39.1 million
Industry News- Jul 05,24
Established in 2012, Decision Point has more than a decade of experience in developing AI-powered solutions and employs over 300 people worldwide.
LatentView Analytics, a Chennai-based digital analytics consulting and solutions company, has acquired 70% of the outstanding equity capital in Decision Point, a global leader in AI business transformation, for $39.1 million. The company plans to acquire the remaining 30% equity in Decision Point over the next two years, based on agreed valuation principles.
"We are excited to complete the acquisition of Decision Point Analytics as per the terms agreed earlier this year,” said Rajan Sethuraman, CEO, LatentView, in a statement. “Decision Point’s strengths open new doors for LatentView. Over the past few months, we have had several engaging joint selling opportunities with Decision Point and are fully energised to drive synergistic growth.”
Ravi Shankar, Founder & CEO, Decision Point, added, "We are thrilled to become part of the LatentView family. We look forward to the next phase of our journey, unlocking synergies as we take our RGM and GenAI solutions to enterprise clients across North America and Europe, powered by LatentView’s Go-To-Market strategy."
Established in 2012, Decision Point has more than a decade of experience in developing AI-powered solutions and employs over 300 people worldwide. The company is recognised for its expertise in demand forecasting, pricing analytics, promotion analytics, retail segmentation, and marketing mix models, particularly in the CPG vertical. Among its key solutions is BeagleGPT, a conversational GenAI app for Microsoft Teams used by Fortune 500 consumer packaged goods (CPG) customers to enhance data analytics adoption.
Rajan Venkatesan, CFO, LatentView Analytics, commented, "With the closing of this acquisition, we have fully utilised all the funds raised during the IPO. The acquisition underscores our commitment to CPG as a focus vertical. We are already seeing significant revenue and cost synergy opportunities and remain committed to investing in the growth of this vertical.”
(Source: Business Standard)
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