AI-driven analytics company ThoughtSpot on Tuesday said it has acquired business intelligence (BI) platform Mode Analytics in a cash and equity deal valued at $200 million.
With the acquisition, 31 employees of Mode Analytics in Kolkata will now come onto the rolls of ThoughtSpot.
ThoughtSpot recently announced $150 million investment in India between 2022 and 2027, which includes 30 per cent headcount growth in the market, and follows the opening of its third R&D centre in the region in Thiruvananthapuram in 2022.
ThoughtSpot’s R&D teams in Bengaluru, Hyderabad and Thiruvananthapuram have been instrumental in delivering innovation resulting in business impact for the company, which is growing at over 100 per cent SaaS ARR (annual recurring revenue) year on year.
The acquisition of Mode Analytics will further drive the business momentum, said the company.
“With this acquisition, we’re giving both data teams and business users the tools they need to efficiently and quickly turn data into insights and those insights into actions,” said Sudheesh Nair, CEO, ThoughtSpot.
With the acquisition, ThoughtSpot's ARR will grow to over $150 million, while doubling its customer base.
“As part of ThoughtSpot, we will help supercharge the business impact of data teams, empowering them to deliver trustworthy AI-powered insights to their organisations quickly,” said Gaurav Renwari, Mode CEO.
Adani Green reports 30 pc EBITDA growth in FY24, revises target to 50 GW for 2030
Adani Green Energy Ltd (AGEL) on Friday reported 30 per cent EBITDA growth at Rs 7,222 crore in FY24, as the renewable energy (RE) major revised its target for 2030 to 50 gigawatt (GW) from 45 GW.
Helicopter crashes en route to pick up Shiv Sena leader in Maha's Raigad
In a shocker, a private helicopter which was flying to pick up Shiv Sena Deputy Leader Sushma Andhare, suddenly crashed on landing, officials said here on Friday.
Salman Khan firing case: Accused gun supplier found hanging in Mumbai police lockup, declared dead
In a sensational development, Anuj Thapan, one of the prime accused in the firing at Salman Khan’s home, allegedly committed suicide in a Mumbai Police lockup on Wednesday, officials said.
Adani Group's Ambuja Cements clocks highest-ever PAT at Rs 4,738 crore in FY24
Ambuja Cements on Wednesday reported profit after tax (PAT) at Rs 4,738 crore for FY24 -- up by a record-setting 119 per cent (year-on-year) -- and operating EBITDA at Rs 6,400 crore, up by 73 per cent.
Govt cuts windfall tax on crude oil, ONGC, OIL India Ltd to gain
The Government has cut the windfall tax on crude oil to Rs 8,400 a metric ton from Rs 9,600 with effect from Wednesday as part of its fortnightly revision.
Adani Total Gas clocks 27 per cent EBITDA growth in FY24, overall volume up 15 per cent
Leading city gas distribution company Adani Total Gas Ltd (ATGL) on Tuesday announced EBITDA of Rs 1,150 crore in FY24 that surged by 27 per cent (year-on-year), with consolidated profit after tax (PAT) at Rs 668 crore which increased by 22 per cent as compared to last fiscal year.
Those who looted the country will have to pay back: PM Modi
Prime Minister Narendra Modi on Tuesday said that action against corrupt people would continue, and those who looted the country will have to pay back.
DMs, SPs of violence-hit MP districts transferred
The farmers agitation entered its eighth day on Thursday. The peasants have been on strike since June 1, demanding loan waiver and fair price for their produce.