Accenture said on Tuesday that it had agreed to buy Ammagamma, a Modena, Italy-based company that helps businesses advance their uses of AI.
The financial details of the agreement, however, were not disclosed.
Established in 2013, Ammagamma has a multidisciplinary team of 90 experienced AI professionals, many of whom specialize in generative AI. The firm’s team also has expertise in areas such as engineering, mathematics, economics, history, philosophy and design.
Ammagamma was founded with the aim of harnessing AI to improve the productivity and performance of Italy-based companies.
“We look forward to bringing Ammagamma on board with Accenture as part of our drive to further accelerate our country’s economic growth,” Mauro Macchi, President and Chief Executive Officer of Accenture Italy, said in a press release.
“AI technology plays a key role in enabling businesses to take a distinctive approach to strengthening their digital core. Italian organizations need to strategically invest in cloud, in the use of data and in AI to boost market competitiveness and to help improve the country’s technological capabilities. Ammagamma marks a crucial investment in Italian excellence that will allow us to create a specialist hub in Emilia-Romagna able to retain and attract talents that Accenture will involve in the innovation projects of leading Italian and international players,” the CEO added.
“This is a proud moment of growth and advancement, but also of recognition for the human-centric approach that has always distinguished us and for our clear vision of artificial intelligence as ‘simple’ applied mathematics, capable of bringing positive impact to people, to businesses, and to society,” Fabio Ferrari, President of Ammagamma, commented.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
