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News » Accenture acquires Italian AI firm Ammagamma

Accenture acquires Italian AI firm Ammagamma

Photo from Accenture

MILAN, ITALY — Professional services company Accenture has agreed to acquire Ammagamma, an Italian artificial intelligence (AI) firm based in Modena, for an undisclosed amount.

Founded in 2013, Ammagamma helps companies advance their use of AI and generative AI technologies. The company’s 90 data scientists, engineers, mathematicians, economists, and philosophers have worked with leading Italian companies across sectors like energy, insurance, banking, utilities, and media to optimize industrial processes using mathematical models.

Ammagamma generated significant revenue growth since 2021 by doubling its workforce. As part of the acquisition, Ammagamma will join Accenture’s network of AI professionals at the new Advanced Center for AI in Europe.

The deal is part of Accenture’s $3 billion investment to accelerate digital transformation through extensive AI adoption.

“AI technology plays a key role in enabling businesses to take a distinctive approach to strengthening their digital core,” said Mauro Macchi, Accenture Italy’s CEO. “Ammagamma marks a crucial investment in Italian excellence that will allow us to create a specialist hub in Emilia-Romagna.”

“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,” said Fabio Ferrari, president of Ammagamma.

The acquisition aligns with Accenture’s robust financial performance and leadership in digital transformation consulting. The firm topped the Time Doctor OA500, an index of the world’s top 500 outsourcing firms, with $61.6 billion in annual revenues for fiscal year 2022.

This year alone, Accenture has expanded its portfolio through 30 strategic acquisitions, including Bionest in the United States, SKS Group in Germany, Morphus in Ireland, and Nautilus Consulting in the United Kingdom​.

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