To strengthen its AI and data strategy skills, Genpact acquired XponentL Data, a supplier of data products and AI solutions.
The acquisition is believed to strengthen Genpact's solutions across strategy, implementation, and industry-specific apps, supporting the company's continuous transition to AI-first services.
With the closing of the purchase on June 5, Genpact will have access to XponentL's data strategy, design, and engineering capabilities.
Additionally, XponentL will expand its alliances with top platforms including Microsoft, Amazon Web Services, and Databricks.
“We believe the future belongs to companies that deploy AI at speed and scale—on a bedrock of data expertise”, says Balkrishan ‘BK’ Kalra, president and CEO of Genpact.
“XponentL’s robust intellectual property will further strengthen how Genpact can help clients harness the full value of their data”.
XponentL seeks to provide capabilities in the fields of enterprise AI strategy, healthcare, and life sciences.
According to Genpact, the partnership would support its AI Gigafactory and service-as-a-service (SaaS) initiatives, enabling customers to expand their AI transformations with operational efficiency.
“Genpact and XponentL share a vision to unlock the power of data for our clients—this opportunity allows us to take it to the next level,” says Tom Johnstone, founder of XponentL, who will continue to lead the business.
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Meanwhile, Michael Hartman, senior vice president at Databricks, called the acquisition a “unique combination of innovation and scale”, noting XponentL’s experience applying intelligent agents and modern architectures on the Databricks platform.