Versent buys Sydney-based data specialists Contexti

Versent has acquired Sydney-based actionable insights business Contexti, as part of plans to deepen data solution offerings across Australia.

Founded in 2012, Contexti specialises in artificial intelligence (AI) and machine learning, with more than 100 enterprise customers which include Caltex, Seven West Media and SAI Global.

According to Thor Essman – founder and CEO of Versent – the acquisition will boost the provider’s ability to respond to increased demand for machine learning, data analytics and data aggregation solutions.

“Our deep expertise in Amazon Web Services (AWS) Cloud, and automation, combined with Contexti’s proven track record delivering automated AI solutions, big data development and data warehouse solutions for Australian enterprise, means we can now offer our customers a complete data and analytics solution,” Essman said.

“Bringing the Contexti team into the Versent family and bolstering our data offer to the Australian enterprise will give our customers, and future customers access to the best minds and solutions in the industry, all under one roof.

“I am genuinely excited about what the next 12 months has in store for Versent and our customers.”

Terms of the acquisition will see the Contexti brand come under the Versent banner, with the team set to move into Versent’s Sydney-based office as part of the integration plans.

Contexti founder and CEO, Sidney Minassian, will continue in an advisory capacity until the end of the financial year.

“Since founding Contexti we’ve been on a mission to help our customers create value from data,” Minassian said. “With an aligned priority on people, culture and values, we’re thrilled to continue and expand our work under the Versent banner.”