Sharktower AI, the portfolio management arm of consultant and solutions business, Mudano, is expanding into its own standalone SaaS venture following the acquisition of Mudano by Accenture Applied Intelligence Services.
Sharktower provides portfolio insights visualisation, predictive analytics and decision-making without bias to help project teams spot and deal with problems before they happen.
Craig Mackay, Sharktower CEO, said: “In the last four years I have proudly been part Mudano’s leadership that has delivered huge growth and provided the platform to lead the Sharktower engineering team from five people in 2017 to a mature product team of over 30 people today.
“It is with even greater pride that I am now able to lead the new business as CEO during the next phase of our journey.
“The world is being transformed by AI and data-led processes and Sharktower is already a leader in the space of applied intelligence for project management – this is absolutely the right time for us to standalone and accelerate our vision, diversify our opportunities and continue to help our customers remove the waste and failures in project delivery.”
The project has been in development and testing for five years, and now intends to expand over the next 50 from its new headquarters in Edinburgh.
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Mackay added: “It’s an exciting time to be able to headquarter and grow a company with global ambitions from Edinburgh. We will continue to benefit from the amazing tech & data ecosystem that has been created here and with the continued support of Scottish Enterprise, we hope to play our part in making Edinburgh the number one destination of tech & data companies and talent in Europe.”
The purchase and transfer will be completed by the 21st of February, from which point Sharktower will be a product of, and operated under, Sharktower AI Limited.
Commenting on the sale, Ed Broussard, Mudano CEO, said: “We’re bringing together the world’s leading AI firm, with the UK’s fastest-growing Financial Services data and machine learning company.
“Together we are going to create something incredible. The speed, agility and creativity of Mudano. The scale, capability and reach of Accenture. We will be able to take on the biggest, most industry-defining data and machine learning projects in the world.”