In its first deal since delisting from Euronext Paris, Artefact has acquired Startup Inside, a France-based network that stimulates corporate intrapreneurship in the areas of data science and artificial intelligence.
Founded in 2016 by Damien Gromier and Lorenzo Croati, Startup Inside helps large companies embrace the working methods of the start-up world in order to build an entrepreneurial mindset and better groom corporate venture investments.
Startup Inside also helps start-ups in the data science and artificial intelligence with incubation and scaling-up, has an own think tank, and organises a range of conferences – including the well-known AI for the Planet conference delivered in collaboration with UNESCO and the United Nations.
For Artefact, a company with around 900 employees and 16 offices worldwide, the bolt-on expands its capabilities in the corporate segment. The firm works with the likes of Orange, L’Oréal, Sanofi and Samsung, and can now add a layer of “start-up thinking” to its existing offerings.
“With its business hackathons and design methodologies, Startup Inside helps Fortune 500 companies instil an entrepreneurial spirit,” said Vincent Luciani, Co-founder and CEO of Artefact. “Their expertise is particularly useful for developing new product and service concepts, while promoting a culture of data-based use cases – perfectly complementary to our offerings.”
The deal also builds out Artefact’s position in the thought leadership and eminence space. Artefact has the ambition to become a household name in the data science world, and by promoting its brand to the thousands of visitors that annually attend Startup Inside’s conferences, the firm expects to grow its reputation.
Luciani: “The acquisition strengthens our role as an influential player at the forefront of the data ecosystem.”
In September last year, Artefact acquired Viva Data, a company specialised in data science training. The firm has since become the fundament of Artefact’s own academy.
Three months following the deal, investment funds Ardian and Cathay Capital acquired Artefact, immediately taking the firm down from the Paris stock exchange. Under the wings of the investors, Artefact aims to embark on its next phase of growth.
Sourced from Consultancy.eu