Latent View Analytics completes 70% buyout of Decision Point for $39.1 mn
Decision Point Analytics has over a decade of experience in developing Artificial Intelligence powered solutions. It has over 300 employees worldwide.
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CHENNAI: Global data analytics, consulting, and solutions firm LatentView Analytics has completed the acquisition of 70 per cent stake in Decision Point Analytics for a consideration of $39.1 million.
The balance 30 per cent equity would be bought over the next two years with a pay out agreed on valuation principles, the Chennai-based LatentView Analytics CEO Rajan Sethuraman had earlier said in March this year.
The strategic acquisition of the artificial intelligence business transformation and revenue growth management (RGM) solution provider enhances LatentView's growth opportunities and RGM and GenAI solutions for global brands engaged in the consumer packaged goods (CPG) vertical.
"We are excited to complete the acquisition of Decision Point Analytics as per the agreed terms set earlier in the year. Decision Point's strength in the CPG practice, especially in Revenue Growth Management Solutions opens new doors..., " Sethuraman said in a statement on Wednesday.
"Over the last few months, we have had several engaging joint selling opportunities with Decision Point and are fully energised to drive synergistic growth," he added.
Decision Point Analytics has over a decade of experience in developing Artificial Intelligence powered solutions. It has over 300 employees worldwide.
"We are thrilled to become a 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 enterprises across North America and Europe, powered by the LatentView's Go-To-Market strategy," Decision Point Founder-CEO Ravi Shankar said.
LatentView Analytics CFO Rajan Venkatesan said, "with the closing of this acquisition, we have fully used the funds raised during the Initial Public Offering. 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 for growing this vertical," he added.