Mphasis buys TAP for CAD10M upfront and up to CAD20M
Mphasis has snapped up Theory and Practice Business Intelligence Inc. (TAP) and its relevant affiliates, a Vancouver-based AI company, in a deal with an upfront consideration of CAD 10 million and additional milestone-based payouts of up to CAD 20 million.
The big draw? TAP's Continuum AI platform, which mixes artificial intelligence with behavioral economics to help businesses make smarter decisions.
Mphasis plans to fold this tech into its own services to boost how companies forecast demand and set prices.
Mphasis to offer sharper data solutions
TAP's expertise will let Mphasis offer sharper, more data-driven solutions, especially for clients in finance, retail, and consumer goods.
CEO Nitin Rakesh is optimistic about the move, saying it should lead to "measurable economic outcomes."
Investors seem on board too: Mphasis shares nudged up after the news.