Accenture buys Indian industrial technology company Flutura

Global consulting and technology firm Accenture has acquired Flutura, an industrial technology company in Bangalore with approximately 110 professionals.

Founded in 2012 by Derick Jose, Krishnan Raman and Srikanth Muralidhara, Flutura specialises in industrial data science services for asset-intensive companies in sectors such as energy, chemicals, manufacturing, and heavy engineering.

Flutura’s platform (‘Cerebra’) help process, asset management and engineering teams assess, predict, and improve the performance, reliability, and throughput of production and manufacturing facilities. The platform also enables industrial engineers and data scientists to develop models of industrial assets, using advanced analytics, internet of things and machine learning.

“Flutura democratizes data science and artificial intelligence for engineers, enabling manufacturing and other asset-intensive companies to reduce lost output due to unplanned downtime of industrial assets,” explained Senthil Ramani, a senior managing director at Accenture and Applied Intelligence lead for Growth Markets.

Commenting on the joining of forces with Accenture, Flutura’s chief executive officer Krishnan Raman said: “Our platform enables engineers to respond with agility to everchanging market and operating conditions. We look forward to scaling this as part of Accenture and helping more industrial clients achieve high-value outcomes in their production operations.”

The deal will also enable Flutura to expand its partnership with manufacturing OEMs. The Indian firm works with industry-leading names such as TechnipFMC, Al Mansoori, and Hitachi.

Meanwhile, Accenture will seek to integrate Flutura’s offerings into its wider geographic businesses, positioning the platform for further international growth. “We are particularly eyeing Australia, South East Asia, Africa, Latin America and the Middle East,” said Ramani.

The deal continues a long list of acquisitions for Accenture in the manufacturing technology space. Last year, the firm acquired data science company Albert in Japan. Other recent acquisitions include Analytics8 in Australia, Sentelis in France, Bridgei2i and Byte Prophecy in India, Pragsis Bidoop in Spain, Mudano in the United Kingdom, and Clarity Insights, End-to-End Analytics and Core Compete in the United States.

According to Gartner analysis conducted in 2022, Accenture is the global leader in the industrial data science services and solutions market, ahead of Deloitte. The market research firm expects the market to continue its strong growth trajectory in the coming years, set to reach $232 billion globally by the end of 2024.