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Cloudwerx acquires AI consultancy Lightfold in strategic expansion
Tue, 30th Jan 2024

In a strategic expansion of its capabilities, APAC Salesforce Summit partner, Cloudwerx, has acquired Lightfold, a leading data analytics and artificial intelligence (AI) consultancy in Australia. This alliance propels Cloudwerx's robust salesforce and automated solutions with Lightfold's innovative approach to data analytics and AI, setting the stage for the delivery of highly innovative solutions to customers across the APAC region.

This acquisition marks Cloudwerx's first undertaking after receiving investment from the leading Australian growth fund, CVC Emerging Companies, in May 2022. The amalgamation of these two tech powerhouses paves the way for customers to access AI and customer data tools that will drive and improve organisational capacities. This merger is expected to redefine the tech consulting landscape by offering clients a wider range of advanced, data-driven services to maintain a competitive edge.

Speaking on the acquisition, Toby Wilcock, CEO of Cloudwerx talks about the similar visions that both companies share. "Cloudwerx's acquisition of Lightfold unlocks new and exciting opportunities for our customers, who can now access AI and customer data tools to drive organisational improvement. This partnership is set to redefine the landscape of tech consulting, by providing our clients with a broader range of advanced, data-driven services to maintain a competitive edge. Both companies share a vision for driving business transformation through advanced technology, making this partnership a natural fit."

Lightfold, known for deploying the 'modern data stack', appeals to organisations across diverse sectors such as financial services, telecommunications, retail and consumer goods, and high tech. The synergy of Cloudwerx and Lightfold could mark the advent of the most advanced business solutions available, as per John Cosgrove, Founder and CEO of Lightfold. "The future of competitive business advantage lies in the ability to utilise cloud-based systems that integrate customer information to surface insights and inform business decisions. At the heart of this transformation are pioneers like Cloudwerx and Lightfold, whose complementary strengths open up new possibilities."

Roger Burgess, Non-Executive Chairman and Co-Founder of Cloudwerx, also spoke about the strategic advantage of this acquisition and the impact it could have on their customers. "This acquisition complements our strategic investment in data analytics and AI technologies. The combination of the two businesses will enable Cloudwerx to unlock operational efficiencies and deliver insights that our customers had never thought possible. Together we are excited to be offering real-world data analytics and AI solutions as one highly specialised team."

After the merger, Cloudwerx plans to continue targeting mid-market and enterprise businesses in the retail and consumer goods, financial services, high tech, health and life sciences industries, among others. It seeks to accelerate growth through superior cloud technology consulting services and solutions.