Global AI specialist Algonomy forges business partnership with Linear Squared

From left: Linear Squared CEO/Co-Founder Sankha Muthu Poruthotage, Algonomy Founder/CEO Said Atul Jalan, and Linear Squared Co-Founder Mohit Pande at the press briefing in Colombo – Pic by Ruwan Walpola

• Initiative to set up a Centre of Excellence in AI and ML Engineering in Sri Lanka 

By Jerome Vincent

Algonomy, a world leader in AI and Algorithmic software for retail and consumer verticals on Wednesday announced its intent to acquire the business Linear Squared, a cloud-based technology company specialising in building demand planning and forecasting products using artificial intelligence and machine learning technologies for CPG, grocery retail industry, and other target industries.

Speaking at the press conference in Colombo, Algonomy Founder/CEO Atul Jalan disclosed that the reason for the alliance is the cultural fit, values and synergies that exist in both companies. 

Algonomy currently operates in 18 countries and has R&D centres located in Seattle, San Francisco and Bangalore. Sri Lanka will be privileged to have the fourth R & D centre of excellence with world-class cutting-edge technology, in highly skilled AI and ML engineering. 

Jalan said that Sri Lanka possesses a superior IT talent pool which can be harnessed to fulfil their vision to become a global leader within the next three years.

“The intended acquisition would allow Algonomy to augment its product offering for consumer products and grocery retail industry segments by integrating Linear Squared’s best of breed demand planning and forecasting product technology into Algonomy’s retail merchandising and supply chain solutions portfolio. It would also allow Algonomy to meet its objective of quickly and efficiently, scaling up its AI technology operations,” Jalan said.

The Linear Square Founder/CEO Sankha Muthu Poruthotage said: “We are excited at the prospect of joining Algonomy, which will help take our innovations to a much broader customer base at a faster pace than on our own. In the short-term, it will improve time-to-market and business growth of our supply chain AI solutions for CPG and grocery retail segments. 

“It will also provide significant opportunities of collaboration and growth for Linear Squared employees who will be within the umbrella of a world-class product engineering organisation. In the long-term, as we expand the centre, we expect it to become an integral part of Algonomy’s global Product and R&D operations to serve multiple product lines.”  

The product portfolios of both companies are complementary in nature. Hence, the consolidated product portfolio can deliver substantial value to customers by providing an end-to-end algorithmic solution.

Algonomy (previously Manthan-RichRelevance) empowers leading brands to become digital-first with the industry’s only real-time Algorithmic Decisioning platform that unifies data, decisioning, and orchestration across marketing, digital commerce, and merchandising for the retail industry. With industry-leading retail AI expertise connecting demand to supply with a real-time customer data platform as the foundation, Algonomy enables 1:1 omnichannel personalisation, customer journey orchestration and analytics, merchandising analytics, and supplier collaboration. Algonomy is a trusted partner to more than 400 leading retailers, consumer brands, quick serve restaurant chains, convenience stores, and more, with a global presence spanning over 20 countries.