PALO ALTO, Calif., June 7, 2023 – SymphonyAI, a leader in high-value enterprise AI SaaS for strategic industries, has acquired 1010data, a leading technology platform provider of decision science, data management, and data analytics.
1010data brings its robust product portfolio, market presence, and brand recognition to SymphonyAI’s existing vertical solutions. Customers who rely on 1010data platform insights to make timely and accurate business decisions will gain additional value through important new product innovation for real-time and near-real-time analytics. Additionally, these customers will benefit from powerful new AI insights for greater agility, efficiency, customer satisfaction, and competitive advantage.
“This strategic acquisition accelerates and strengthens SymphonyAI’s mission to become the leading enterprise AI SaaS company delivering value to the most critical and resilient industries. 1010data’s customers will benefit from additional depth and velocity of technology innovation as the organizations unite,” said SymphonyAI CEO Sanjay Dhawan. “We welcome 1010data customers and are excited about the 1010data team becoming members of SymphonyAI with the opportunity to excel, building on 1010data’s proven strengths and leveraging SymphonyAI’s predictive and generative AI technology.”
“I’m thrilled that the 1010data team and business are moving to SymphonyAI,” said interim 1010data CEO Nomi Bergman, who has stepped down from her role as part of the acquisition. “1010data will continue the product and technology leadership and excellence that our customers rely on while pursuing cutting-edge AI product innovations for the ‘connected, intelligent store’ with insights and agility across retail, CPG, and 1010data’s important financial services customers.”
“We are incredibly excited about the acquisition of 1010data,” said Manish Choudhary, president and CEO of SymphonyAI Retail CPG. “This strategic move further solidifies our commitment to revolutionizing the retail, CPG, and financial services sectors through predictive and generative AI. Through the expertise of 1010data’s talented team, we will unlock new possibilities for customers, empowering them to thrive in an increasingly competitive market.”
Terms of the transaction, which is complete, were not disclosed. Evercore and Hughes Hubbard & Reed LLP advised 1010data and Bryan Cave Leighton Paisner advised SymphonyAI on the acquisition.
1010data provides decision science and data management solutions that empower companies to identify the insights needed to make timely and accurate business decisions. For over 20 years, we have helped retailers and brands “see what they need” in their sales and operational performance to optimize for today while being responsive for tomorrow. To learn more, visit www.1010data.com.
SymphonyAI is building the leading enterprise AI SaaS company for digital transformation across the most critical and resilient growth verticals, including retail, consumer packaged goods, finance, manufacturing, media, and IT/enterprise service management. SymphonyAI verticals have many leading enterprises as clients. Since its founding in 2017, SymphonyAI has grown rapidly to 3,000 talented leaders, data scientists, and other professionals. SymphonyAI is a SAIGroup company, backed by a $1 billion commitment from successful entrepreneur and philanthropist Dr. Romesh Wadhwani. Learn more at www.symphonyai.com