Acquisition for Financial Services Specialist Acuity

London-based Acuity Knowledge Partners, which provides bespoke research, data management, analytics and AI solutions to the financial services sector, has acquired data science and digital transformation company Ascent.

Acuity operates from sixteen locations worldwide and combines a global network of more than 6,500 analysts and industry experts with proprietary technology, to help financial institutions and consulting companies operate more efficiently. The firm was part of ratings firm Moody's until 2019 when it was acquired by Equistone Partners Europe - Equistone in turn sold a majority stake to global private equity firm Permira in 2023.

The group has now acquired Ascent, a European AI and digital services business whose expertise includes data science and user experience design, software and data engineering. The firm was founded in 2005 and is headquartered in the UK and Munich, Germany, employing some 550 technology specialists across Europe. Five years ago it acquired data science consulting business Mango Solutions.

The deal, which is expected to close on 30th September, will 'significantly' expand Acuity's Data and Technology Services division (DTS), according to the company. CEO Robert King (pictured) says the buy will 'turbo-charge' the company's ability to help clients with their digital transformations and AI adoption, as well as opening up new sectors including reinsurance, pharma, manufacturing and retail. Ascent CEO Stewart Smythe adds: 'Acuity's strategic aim to build a global technology services business unit to complement its capabilities and build broader relationships with its existing clients is exactly the opportunity my team were looking for, and we are excited to work with Robert King, Jon O'Donnell and the entire Acuity team.'

Web sites: www.acuitykp.com and www.ascent.io .