California, USA-based leader in high-value enterprise AI SaaS for strategic industries, Symphony AI, acquired New York, USA-based technology platform provider of decision science, data management, and data analytics, 1010data. The company announced the acquisition on June 7, 2023. However, it did not disclose the amount of the transaction.
As part of the deal, Interim 1010data CEO Nomi Bergman stepped down from her role.
Purpose of acquisition by Symphony AI
The addition of 1010data brings its robust product portfolio, market presence, and brand recognition to SymphonyAI’s existing vertical solutions. Meanwhile, 1010data’s Customers will gain additional value through important new product innovation for real-time and near-real-time analytics.
In addition, the customers receive benefits from powerful new AI insights for greater agility, efficiency, customer satisfaction, and competitive advantage.
What the Symphony AI’s official has to add
SymphonyAI CEO Sanjay Dhawan said, “This strategic acquisition accelerates and strengthens SymphonyAI’s mission to become the leading enterprise AI SaaS company delivering value to the most critical and resilient industries. 1010data’s customers will benefit from additional depth and velocity of technology innovation as the organizations unite. We welcome 1010data customers and are excited about the 1010data team becoming members of SymphonyAI with the opportunity to excel, building on 1010data’s proven strengths and leveraging SymphonyAI’s predictive and generative AI technology.”
In addition, Manish Choudhary, president and CEO of SymphonyAI Retail CPG, said, “We are incredibly excited about the acquisition of 1010data. This strategic move further solidifies our commitment to revolutionizing the retail, CPG, and financial services sectors through predictive and generative AI. Through the expertise of 1010data’s talented team, we will unlock new possibilities for customers, empowering them to thrive in an increasingly competitive market.”
What the 1010data official has to comment
Interim 1010data CEO Nomi Bergman said, “I’m thrilled that the 1010data team and business are moving to SymphonyAI. 1010data will continue the product and technology leadership and excellence that our customers rely on. Meanwhile, we intend to pursue cutting-edge AI product innovations for the ‘connected, intelligent store’ with insights and agility across retail, CPG, and 1010data’s important financial services customers.”
About Symphony AI
Romesh Wadhwani in 2017 launched Symphony AI. Since its inception, SymphonyAI has grown rapidly to 3,000 talented leaders, data scientists, and other professionals. SymphonyAI is building the leading enterprise AI SaaS company for digital transformation across the most critical and resilient growth verticals, including retail, consumer packaged goods, finance, manufacturing, media, and IT/enterprise service management.
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