Algonomy to acquire Sri Lanka's Linear Squared

Atul Jalan’s Bangaluru based company Algonomy into artificial intelligence and algorithmic decisioning software firm has acquired Sri Lanka’s Linear Squared AI and machine learning space for an undisclosed amount.

Algonomy announcement came as Linear Squared’s leadership in building demand planning and forecasting products, as a result driving forward clients’ sales and frontend marketing performance.

Linear uses AI and machine learning to develop software-as-a-service solutions for consumer-packaged goods, retail, financial services, telecom and other industries. However, the acquisition is subject to corporate and regulatory approvals.

Atul Jalan, Founder & CEO of Algonomy said: “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. 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 & ML Engineering Centre of Excellence in Sri Lanka.”

Responding to a query as to what influenced Algonomy to acquire the business of Linear Squared, Jalan said that the exceptional talent and the sophistication of the products offered by Linear Squared were promising. He emphasized that therefore, the current leadership team of Linear Squared will remain with larger global roles, along with the employees.

At present, Algonomy has a huge client base which includes big names in the industry such as Walmart Canada, Comcast, Honeywell, Carrefour, Love’s, Future Group, Flipkart, L’Oreal, Coop Danmark, United Supermarkets, Price Chopper, McDonald’s India, Pizza Hut, KFC Canada, Dominos India, Alshaya, and Robinsons, among many others.

By leveraging the core competencies of Linear Squared ,its cutting-edge technologies such as AI, machine learning, and cloud platform as well as statistical models to deliver solutions to business problems across multiple domains including CPG, grocery retail, apparel, FMCG, financial services, and telecom. Home to the largest pool of AI & ML engineers in the country, among the key clients of Linear Squared are Dialog Axiata, Sunshine Holdings, and GlaxoSmithKline (GSK).