Singapore-headquartered Big Data and analytic firm Antuit Holdings Pte Ltd, set up by an Indian origin founder and with an office in Bangalore, has acquired Chicago-based analytics company Prognos, the company said in a press release. The deal amount is not disclosed.
The acquisition will help Antuit strengthen its offerings to the retail and consumer packaged goods (CPG) market.
“Today’s announcement is a significant next step in our progression to becoming a global leader in the delivery of business-enhancing Big Data solutions and services,” said Arijit Sengupta, CEO of Antuit.
“Prognos has established itself as a leader in its category and has built a reputation for delivering measurable results for an impressive array of CPG and retail clients. We look forward to integrating Prognos’ capabilities and talents and, in combination with Antuit’s broader offerings, financial backing and global footprint, continuing to deliver actionable insights for established and new clients," Sengupta said.
The acquisition comes almost three months after Antuit received $56 million from Goldman Sachs with participation from its existing seed investor Zodius Capital.
“Antuit and Prognos are like-minded in strategy and we will continue to provide clients with high quality, results-oriented work in a responsive way,” said Sam Losevich, managing principal at Prognos.
Founded in 2007, Prognos focuses on demand forecasting, lifecycle pricing and customer insight. The company, which specialises in the retail and CPG sector, has operations in Chicago and Dallas in the US and Pune in India.
Equirus Capital acted as the exclusive financial advisor to Prognos on this deal.
Antuit was founded in 2013 by Sengupta, a management graduate from IIM-Ahmedabad, who has previously worked at Accenture, Daksh eServices, IBM and WNS Global Services. The company delivers solutions in supply chain & operations, sales & marketing and retail and CPG. It operates in Singapore, New York, Seattle, Auckland and Bangalore.
In August 2013, the firm had raised $3 million from Zodius Capital and other individual investors.
(Edited by Joby Puthuparampil Johnson)