Atul Jalan AI co Algonomy is trying to buy the Lancan technology company Linear Squared

Atul Jalan AI co Algonomy is trying to buy the Lancan technology company Linear Squared

Algonomy, the artificial intelligence organization led by serial business visionary Atul Jalan, declared its expectation to procure the business of Colombo-based Linear Squared, a cloud-based innovation organization specialized in building request planning and forecasting items for CPG, grocery retail industry and other objective enterprises. The proposed securing is dependent upon corporate and regulatory endorsements. The organizations didn’t uncover the worth of the exchange. The product portfolios of the two organizations are complementary in nature.

“The intended acquisition would allow Algonomy to augment its product offering for consumer products and grocery retail industry segments by integrating Linear Squared’s best of breed demand planning and forecasting product technology into Algonomy’s retail merchandising and supply chain solutions portfolio,” said Atul Jalan – founder and CEO, Algonomy. “It would also allow Algonomy to meet its objective of quickly and efficiently scaling up its AI technology operations by setting up a highly-skilled AI and ML engineering Center of Excellence in Sri Lanka.”

Linear Squared (Pvt.) Ltd. specializes in developing SaaS products leveraging on a combination of cutting-edge technologies including cloud platform and statistical models to deliver solutions to business problems across multiple domains including CPG, grocery retail, Apparel, FMCG, financial services & Telecom. Based out of Sri Lanka, it is home to the largest pool of AI and ML engineers in the country.

Hence the consolidated product portfolio can deliver substantial value to customers by providing an end-to-end algorithmic solution.

“We founded Linear Squared with a vision to deliver ready-to-use AI and ML-driven products that convert data to proactive actions to solve some of the most complex industry problems,” said Sankha Muthu Poruthotage – CEO and co-founder, Linear Squared. “We’re excited at the prospect of joining Algonomy, which will help take our innovations to a much broader customer base at a faster pace than on our own. In the short term, it will improve time-to-market and business growth of our supply chain AI solutions for CPG and grocery retail segments.

The acquisition will also provide significant opportunities of collaboration and growth for Linear Squared employees. In the long term, the firm expects to become an integral part of Algonomy’s global product and R&D operations to serve multiple product lines.

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