The Hackett Group (NASDAQ: HCKT), a Miami, FL-based Gen AI strategic consultancy and executive advisory firm, acquired LeewayHertz, a Gurgaon, India-based provider of advanced Gen AI solutions.
The amount of the deal was not disclosed.
The transaction combines Hackett’s enterprise solutions with LeewayHertz’s Gen AI advanced solutioning and implementation capabilities, as well as their respective AI XPLR and ZBrain.ai software platforms.
Led by CEO Akash Takyar, LeewayHertz specializes in AI consulting and development, offering innovative solutions to empower businesses with artificial intelligence capabilities. Specializing in enterprise-grade AI applications, the company leverages technologies like generative AI, computer vision, and machine learning to help customers optimize processes, enhance customer experiences, and drive growth. LeewayHertz’s flagship product, ZBrain, a low-code generative AI orchestration platform, has been instrumental in helping enterprises integrate AI into their operations with ease.
Led by CEO Ted A. Fernandez, The Hackett Group is a Gen AI strategic consultancy and executive advisory firm that enables organizations to improve their digital performance using AI XPLR™, its Gen AI assessment platform.
In connection with the acquisition, The Hackett Group and Akash Takyar are creating a joint venture whereby The Hackett Group will contribute the AI XPLR and ZBrain platforms. The integration of AI XPLR and ZBrain products will enable the joint venture to provide advanced and tailored Gen AI solutions to its clients. Combining AI XPLR’s ideation and simulation capabilities with ZBrain’s Gen AI development platform in a new entity will allow The Hackett Group in partnership with Akash Takyar to pursue a software platform growth strategy that will consider strategic funding sources as required after initial funding by The Hackett Group. This should allow The Hackett Group to pursue an entirely new value creation strategy for its shareholders. Akash Takyar will become the new CEO of the joint venture, ZBrain, while also leading The Hackett Group’s Gen AI Implementation group.
FinSMEs
16/09/2024