Indian Economy News

Goldman Sachs-backed big data start-up Antuit acquires US firm Prognos

  • Livemint" target="_blank">Livemint
  • April 21, 2015

Mumbai: Antuit Holding Pte Ltd, a big data analytics start-up backed by Goldman Sachs and venture capital firm Zodius Capital, on Monday announced the acquisition of Prognos Inc., a US-based firm that provides analytics solutions in the retail and consumer packaged goods space.

The transaction is Antuit’s first acquisition since the company raised $56 million from Goldman Sachs in January this year.

The firms did not disclose the value of the transaction. Mumbai-based Equirus Capital advised Prognos on the transaction.

Incorporated in 2007, Prognos offers services across demand forecasting, lifecycle pricing, customer insight and merchandising for retail and consumer packaged goods (CPG) businesses, Antuit said in a statement. Prognos has offices in Chicago and Dallas in the US as well as Pune in India.

“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. 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 across multiple sectors,” said Arijit Sengupta, chief executive officer at Antuit.

Antuit was founded in 2013 by Sengupta and Neeraj Bhargava. The company offers analytics services that helps integrate people, products and methodologies in areas of supply chain, operations, sales and marketing functions. The company has offices in New York, Seattle, Singapore, Bangalore and Auckland.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.