Genpact to buy artificial intelligence specialist Rage Frameworks

Global business process outsourcing (BPO) services firm Genpact today struck a deal to buy Rage Frameworks, a knowledge-based artificial intelligence (AI) automation technology and services firm, for an undisclosed sum.

As part of transaction, Genpact will acquire Rage Frameworks delivery centers in Atlanta and Austin.

New York Stock Exchange-listed Genpact said that the acquisition advances its strategy to drive both digital-led innovation and digital-enabled intelligent operations for its clients.

Genpact said that Rage provides a leading AI platform in cognitive computing that enables large enterprises across industries to leverage advanced AI techniques and clients use this platform to derive unprecedented real-time insight for a range of mission-critical functions, including automatically reading and extracting data and insights from balance sheets and other financial data, contracts, news, and business reports.

''As advanced technologies such as AI fundamentally change the definition of work, the ability for CXOs to find and leverage new solutions that combine the best elements of human expertise and machine intelligence, will be critical to their ability to gain and sustain competitive advantage,'' said NV 'Tiger' Tyagarajan, president and CEO of Genpact.

Based in Massachusetts and with global operations centres in Pune and Belgaum, Rage Frameworks provides knowledge-based automation technology and services in artificial intelligence for the Enterprise.

Its RAGE-AI no-code patented platform for end-to-end automation of knowledge-based processes is currently used by some of the largest banks, manufacturers, consulting companies, high tech firms, and logistics companies.

Genpact is the world's largest third-party analytics service provider and employs around 77,000 people in more than 20 countries, with key offices in New York, Palo Alto, London, and Delhi.