Digital engineering and artificial intelligence (AI) services provider Accolite Digital has announced merger with digital consultancy Bounteous. Chicago-headquartered Accolite, with a significant India presence, along with Bounteous will create a new end-to-end digital transformation services consultancy and partner with leading brands globally — including 300 Fortune 1000 and high growth clients. Both companies are backed by New Mountain Capital, a New York-based investment firm.
The merged entity will have total headcount of 5,000 people, with APAC accounting for lion’s share of over 3,400 employees. Others will operate from North America and Europe. Keith Schwartz will serve as CEO and Leela Kaza will serve as Co-CEO of the combined entity. The joint company aims to scale to billion dollar valuation in coming years.
“With the digital innovation mastery of Bounteous combined with Accolite’s digital engineering expertise and talent across North America, EMEA, and APAC, we are uniquely positioned to empower our clients to create extraordinary customer experiences that inspire genuine brand appreciation and long-term loyalty. This combination also fulfills our stated goal of becoming one of the top 10 privately held digital engineering firms in the world,” said Leela Kaza, Founder and CEO of Accolite.
The combined entity will serve industries such as Banking, Financial, and Insurance; Consumer Goods and Retail; Healthcare; Logistics; Restaurant and Convenience; Telecommunications; Technology; and Travel & Hospitality. It will provide solutions across AI and data, Cloud, customer experience and martech, digital commerce, and product engineering.
“We see tremendous growth potential in the combination of these two companies, both of which bring impressive, blue-chip customer rosters, world-class digital consulting and engineering capabilities and a deep commitment to innovation. The technology, skills and global delivery capabilities represented here create a highly attractive digital transformation partner for C-suite leaders at the biggest brands in the world,” said Prasad Chintamaneni, managing director at New Mountain Capital.