McKinsey & Company, a global management consulting firm, has acquired Iguazio, a leading provider of data science and AI platforms, in a move to accelerate and scale enterprise artificial intelligence (AI). Iguazio\’s platform is built on a proprietary data science and AI platform, which simplifies the deployment, management, and scaling of machine learning (ML), data science, and AI applications. The platform provides a range of tools and services for data scientists, data engineers, and AI developers to easily build, deploy, and scale AI and data science applications, as well as manage and govern data.
McKinsey & Company sees the acquisition as a key step in its strategy to help clients leverage AI to drive business value. The firm plans to use Iguazio\’s platform to accelerate the development and deployment of AI solutions across a wide range of industries, including financial services, healthcare, retail, and manufacturing.
“After analyzing more than 1000 AI companies worldwide, Iguazio was identified as the best fit to help us significantly accelerate our AI offering – from the initial concept to production, in a simplified, scalable and automated manner. By joining forces with Iguazio, we can now deepen the unparalleled, disruptive, end-to-end AI capabilities we offer to our clients,” Ben Ellencweig, McKinsey senior partner and QuantumBlack global leader of alliances and acquisitions.
The acquisition is also expected to bring significant benefits to Iguazio\’s existing customers, as they will now have access to McKinsey & Company\’s global network of experts and resources.
“McKinsey’s experience and QuantumBlack’s technology stack and expertise, now coupled with Iguazio, is the ultimate solution for enterprises looking to scale AI initiatives in a way that directly impacts their bottom line. We’re thrilled to join the McKinsey family and embark on this next chapter for Iguazio,” Asaf Somekh, co-founder and CEO of Iguazio.
The terms of the acquisition were not disclosed, but it is expected to close in the coming weeks. This acquisition is a major step for McKinsey & Company in its pursuit to bring advanced technology solutions to its clients, and it is also a sign of the growing importance of AI and data science for businesses. With Iguazio\’s platform, McKinsey & Company will have the tools and resources to help its clients navigate the rapidly changing AI landscape and stay competitive in the digital economy.