To help enterprises provide end users with data control across multiple sources, Accenture Ventures, the venture capital arm of global professional services company Accenture, has acquired a minority stake in California-based software firm Paxata for an undisclosed sum.
The systems integration giant also formed a strategic alliance with Paxata to help its clients free up IT resources, allowing scarce data talent to work on strategic data architecture, rather than tactical data preparation.
Paxata will support Accenture clients' emerging enterprise requirements such as digital transformation, modern data supply chain, and General Data Protection Regulation (GDPR) for hybrid and multi-cloud environments.
Accenture will include Paxata's Adaptive Information Platform and self-service data prep application in the Accenture Insights Platform (AIP).
AIP is a cloud-based analytics-as-a-service solution designed to solve business problems supporting a data-driven culture.
"Paxata's Adaptive Information Platform empowers users to unlock trapped data and use it to develop robust insights, which can lead to more intelligent decision-making and better business outcomes," Narendra Mulani, Chief Analytics Officer, Accenture Analytics, said in a statement on Monday.
Using Paxata's Adaptive Information Platform, Accenture will help clients accelerate access to contextual information.
Business analysts will be able to gather, explore, discover and prepare data themselves and rapidly assemble and construct information that is trustworthy and ready for business use.
"Accenture's drive for efficiency, innovation and assisting clients with emerging technologies makes this an incredibly strong and an exciting alliance", said Prakash Nanduri, CEO, Paxata.