Mphasis, the global AI-led technology solutions provider, has announced the acquisition of Theory and Practice Business Intelligence Inc. (TAP) for an upfront consideration of CAD 10 million. The acquisition also includes a multi-year contingent consideration of up to CAD 20 million, based on management milestones. TAP, headquartered in Vancouver, Canada, is known for its Continuum AI platform, which combines artificial intelligence with behavioural economics to aid business decision-making.
The acquisition of TAP is expected to bolster Mphasis‘ ‘Decisioning Intelligence’ capabilities, aligning with the company’s NeoIP™ roadmap. TAP’s Continuum AI, a modular and scalable platform, supports real-time enterprise decision-making across various domains, including demand forecasting, pricing, marketing, and supply chain decisions. This platform allows clients to harness intelligence across functions while maintaining the intricacies of customer behaviour and significant business decisions.
Nitin Rakesh, CEO and Managing Director of Mphasis, emphasised the strategic importance of the acquisition, stating that TAP’s Continuum AI will introduce a critical decision intelligence layer that can drive measurable economic outcomes for enterprises. He noted that over 80% of AI spending is projected to focus on business reimagining, and this acquisition extends Mphasis’ reach into this critical segment.
Dr. Rogayeh Tabrizi, Founder and CEO of Theory and Practice, expressed enthusiasm about joining Mphasis, highlighting the potential to leverage Mphasis’ scale and industry expertise to transform domain-specific successes into reusable decision assets. Dr. Tabrizi will join Mphasis’ leadership team as Executive Vice President – CPG and Head of Decision AI.
The acquisition is expected to enhance Mphasis’ position as an AI-led, platform-enabled service provider, expanding its Retail and Consumer Packaged Goods (CPG) portfolio and bringing in a team of experts in AI, data science, and behavioural economics.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).