Gaining insights from loads and chunks of data to accelerate the growth and enable efficient service to customers is necessary. Embedded analytics is one of the major tools that can help organizations in decision making processes while maintaining day-to-day operations. Many leading organizations and startups have invested in innovating and developing analytics solutions to ease up extraction of meaningful insights from huge chunk of data. Advancements in technology along with human interventions would solve many problems lurking in various sectors. The combination of excellence and expertise of different market players would enable both players in offering better service to customers. So, giant companies have been utilizing their resources in acquiring firms to combine expertise and enhance the quality of offerings. The tech giants including Google, Salesforce, and Intuit (News - Alert) have recently acquired other firms to enhance their capabilities and provide solutions to their hundreds of customers. This trend has been driving the industry across the world to greater heights. According to the report published by research firm Allied Market Research, the global embedded analytics market is expected to reach $60.28 billion by 2023. Acquisitions have been ruling the industry currently. Following are some of the major acquisitions that would shape the industry in next few years.
Salesforce’s acquisition of Tableau Software:
Salesforce.com (News - Alert) Inc. acquired Tableau Software Inc. in a $15.3 billion deal, which makes it the biggest acquisition in the history of the firm. The major aim of the acquisition is to provide more insights to clients. The Seattle based Tableau boasts over 86,000 clients with giants including Netflix Inc. and Verizon (News - Alert) Communications Inc. Steve Koenig, the Wedbush Securities analyst, outlined that this acquisition helps in speeding up the roadmap of Salesforce for its Customer 360 initiative that enables the firm to get a thorough view of customers along with analytics initiative. The deal is expected to be closed by the third quarter of this year. After the closing of deal, Tableau will begin its operations independently. Commenting on the acquisition, Marc Benioff, Salesforce co-CEO, said that Tableau enables people view and understand the data, while Salesforce enables engagement and understanding of customers. This deal would add a revenue of nearly $400 million to Salesforce by 2020. However, it would roll down adjusted profit by nearly 37 cents to 39 cents per share.
Google announced that it would acquire Looker for $2.6 billion in an all-cash transaction. The leading tech giant Google make this move of
acquisition of the analytics software startup for expanding and improving the solutions for its cloud solutions. The acquisition is expected to go through by the end of this year with regulatory approvals. With completion of the process, Looker will become the part of cloud division of Google. Commenting on the acquisition, Thomas Kurian, the CEO of Google Cloud, said that the combination would enable clients to utilize data in innovative ways for driving digital transformation. The acquisition would enable better assistance in enhancing product development, go-to-market, and customer success capabilities. Moreover, it would help in offering industry-specific analytics solutions in various verticals including media analytics in entertainment industry, healthcare analytics, and supply chain analytics in retailing industry. There are nearly 350 common customers for both companies and the common culture of these two companies would enable them to accelerate the growth with combination of expertise of both.
Intuit’s acquisition of Origami Logic:
Intuit Inc. acquired Origami Logic as a part of its strategy to become experts in AI-driven solutions. Origami is a developer of advanced data integration and analytics solutions. The acquisition is expected to help Intuit in streamlining data architecture and structures to present new opportunities for its customers. Sasan Goodarzi, the Chief Executive Officer of Intuit, said that having a well-built and excellent data architecture is a focal point of the strategy of Intuit to provide valuable insights to its customers. The acquisition is expected to speed up the organization, understanding, and utilization of data to offer personalized insights for assisting customers in achieving success. The platform of Origami is capable of gathering the data and offer insights rapidly and efficiently. Opher Kahane (News - Alert), the Chief Executive Officer and Co-Founder of Origami Logic, outlined that the challenge to extract valuable insights from rapidly changing, diverse, and overlapping data sources is tough and universal. It requires both human expertise and technology. The firm is excited to solve the problems Intuit has been endeavoring to solve with this opportunity. Marianna Tessel, the Chief Technology Officer of Intuit, said that the firm is looking forward to integrate the Origami Logic’s platform along with its expertise to speed up the journey of the company for offering enhanced end-to-end experiences to its customers. The deal is expected to go through by the end of this year.
Edited by Maurice Nagle