Blog Coverage Genpact Acquires Rage Frameworks; Set to Expand its AI Portfolio
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LONDON, UK / ACCESSWIRE / March 15, 2017 / Active Wall St. blog coverage looks at the headline from Genpact Ltd. (NYSE: G) as the Company, a global professional services firm aimed at delivering digital transformation for clients, announced on March 14, 2017, that it has signed a definitive agreement to acquire Rage Frameworks, a leading Company in knowledge-based automation technology and services delivering Artificial Intelligence services for the Enterprise. The terms of the agreement were not disclosed as of now. Register with us now for your free membership and blog access at:
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One of Genpact's competitors within the Business Services space, WEX Inc. (NYSE: WEX), reported on February 13, 2017, its financial results for the three months and year ended December 31, 2016. AWS will be initiating a research report on WEX Inc. in the coming days.
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RAGE-AITM Platform
Genpact views this acquisition as a step under its strategy to drive both digital-led innovation and digital-enabled intelligent operations for its clients. Rage provides a leading AI platform in cognitive computing which enables large enterprises across industries to bank on advanced AI techniques to simplify automation challenges. The RAGE-AITM is a no-code fully model-driven platform built with the goal of bridging the gap between business transformation idea and the realization by automating knowledge work, intuitively and rapidly.
Clients can use this platform to derive unprecedented real-time insights for a range of mission-critical functions, including automatically reading and extracting data and insights from balance sheets and financial data, business reports, news, and contracts. Genpact additionally anticipates utilizing Rage's solutions for front desk automation, real-time intelligence, and pricing. Hence, clients can expect to address customer needs and adjust as per market dynamics to manage risks better and achieve top-line growth using AI technologies.
Rage's Diverse Portfolio
Rage Frameworks, the leading provider of artificial intelligence (AI) for the enterprise, announced on February 14, 2017, that it currently offers AI-powered Wealth Management Solution to three of the top five wealth management firms in America. This AI-based technology from Rage is applied to wealth management and enables robustness in the financial infrastructure. Rage offers a diverse AI platform and enables large enterprises across industries to leverage advanced AI techniques while simplifying automation challenges. Eventually, clients can address customer needs and market dynamics while managing risk better, differentiating their offerings, and hence, achieve top-line growth.
Genpact's Growth Strategy
Genpact plans to develop and expand Rage's AI offerings and bring a whole new set of services to existing or new clients in the financial services, insurance, consumer packaged goods, life sciences, industrial engineering and high-tech industries, while addressing existing and emerging application areas including supply chain optimization, supplier risk management, supply chain cost audits, purchase order automation and automated contract reviews. Recently, on March 09, 2017, Genpact launched its Artificial Intelligence Reporting solution that harnesses the power of AI technologies to automate financial planning and analysis operations and driving more timely, insightful reporting.
This acquisition is a follow-up of the successful strategic partnership between the two Companies over the last 18 months. Rage and Genpact have collaborated over multiple strategic client engagements.
Dr. Venkat Srinivasan, CEO and founder, Rage Frameworks views this agreement as a step towards greater scalability and deploying advanced solutions across a broader client base. Currently, the enterprise AI market grows at an unprecedented pace and this transaction will enable Genpact to leverage upon the diversified growth opportunities offered.
Stock Performance
At the close of trading session on Tuesday, March 14, 2017, Genpact's stock price slightly slipped 0.13% to end the day at $23.79. A total volume of 810.06 thousand shares were exchanged during the session. The Company's share price has gained 2.01% in the past six months. The Company's shares are trading at a PE ratio of 18.64 and have a dividend yield of 1.01%. Additionally, the stock currently has a market cap of $4.73 billion.
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