Artificial intelligence and analytics services provider C5i has acquired marketing analytics company Analytic Edge for an undisclosed sum, marking its second acquisition in 12 months. The transaction valued Analytic Edge at $30-40 million, people close to C5i said.
US-based C5i is aiming for a turnover of Rs 1,000 crore in the coming fiscal year and is looking for one more acquisition before deciding on a listing in India in 12-18 months, chairman Ashwin Mittal said.
“We acquired Incivus in 2023 and its visual AI platform has helped us build and scale various product IPs. With Analytic Edge, we are adding more to that, such as marketing spend optimisation, real-time pricing intelligence, promotion optimisation, etc. Plus, they are close partners to top social media platforms,” Mittal said.
Incivus successfully predicted the winning ads for the Cannes Lions International Festival of Creativity, he added.
The company, which also specialises in generative AI solutions and MLOps, believes synthetic data creation will have a major impact on the data analytics and insights landscape.
“With synthetic data, organisations can overcome data scarcity, address biases, and enhance predictive accuracy. Synthetic data created by GenAI also provides significant cost savings and high return on investment,” Mittal said.
Backed by investors including 360 One Asset, Nuvama and Carnelian, C5i was founded in 2000 and counts top technology, consumer packaged goods and pharmaceutical companies as its clients. Almost 98% of its revenue comes from the US, Europe, Middle East and Asia, while 2% is from India.
The company has 90% of its 1,800 employees based in India.
Source: Economic Times