Accenture to Acquire Italian Generative AI Firm Ammagamma as Part of its $3 Billion Investment
In Brief
Accenture has unveiled plans to acquire Ammagamma, an Italian firm specializing in AI and generative AI technologies.
Global professional services giant Accenture has unveiled plans to acquire Ammagamma, an Italian firm specializing in artificial intelligence (AI) and generative AI technologies.
As part of the acquisition, the Italian firm is set to integrate into Accenture’s growing network of AI professionals within its Advanced Center for AI in Europe to look for AI applications across industries.
The move is part of Accenture’s ambitious $3 billion investment initiative aimed at propelling clients’ digital transformations through the extensive application of AI.
“This is a proud moment of growth and advancement, but also of recognition for the human-centric approach that has always distinguished us and for our clear vision of artificial intelligence as ‘simple’ applied mathematics, capable of bringing positive impact to people, to businesses, and to society,” said Fabio Ferrari, president of Ammagamma. “Becoming part of Accenture is the best possible recognition for the pioneering path that we have taken so far.”
As per the announcement, the terms of the transaction, including financial details, remain undisclosed and completion of the acquisition is subject to customary closing conditions.
Founded in 2013, the startup leverages AI to enhance the productivity and performance of Italian businesses while contributing to understanding the potential, implications, and impact of AI technology.
“We look forward to bringing Ammagamma on board with Accenture as part of our drive to further accelerate our country’s economic growth,” said Mauro Macchi, president and CEO of Accenture Italy.
“AI technology plays a key role in enabling businesses to take a distinctive approach to strengthening their digital core. Italian organizations need to strategically invest in the cloud, in the use of data and in AI to boost market competitiveness and to help improve the country’s technological capabilities. Ammagamma marks a crucial investment in Italian excellence that will allow us to create a specialist hub in Emilia-Romagna able to retain and attract talents that Accenture will involve in the innovation projects of leading Italian and international players,” Macchi added.
Accenture’s $3 Billion Bet on AI
In June 2023, Accenture unveiled plans to make an investment of $3 billion in its data & AI practice over the next three years. The objective is to support clients across various industries in leveraging the power of data and AI. As part of this initiative, it aims to double its AI talent pool to 80,000 professionals through a combination of hiring, acquisitions, and training programs.
Further, the company declared that its expanded data and AI practice will introduce fresh industry solutions and pre-built models. These offerings are designed to assist companies from 19 different industries in driving value in the near future.
Under the same, the IT solutions provider launched a network of generative AI studios in North America to empower clients in exploring industry use cases, co-innovating, conducting AI pilots, and rapidly initiating and scaling programs.
The firm invites clients interested in pursuing commercial uses of generative AI to visit the studios at Accenture Innovation Hubs located in Chicago, Houston, New York, San Francisco, Toronto, and Washington, D.C.
Accenture’s acquisition, as part of its $3 billion investment initiative, is aimed at advancing clients’ digital transformations through AI applications. The synergies between the two may help in fostering innovation and contributing to Italy’s technological landscape.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.About The Author
Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.
More articles
Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.
