Ankura Consulting acquires Noragh Analytics
Machine learning and data specialist Noragh Analytics has been purchased by Ankura Consulting. The acquisition bolsters the consultancy’s data and technology offerings, allowing its experts to bring artificial intelligence solutions to new corporate markets.
Ankura Consulting is a business advisory firm which provides management consulting and expert services to businesses. Backed by private equity group Madison Dearborn Partners, Ankura has been looking to expand on both sides of the Atlantic in recent years.
In 2021, the US headquartered consultancy brought on board several high-profile restructuring specialists to launch a new restructuring offering in the US and Europe. Now, the company has bolted on another element to its expanding offering, with the acquisition of data analytics firm Noragh Analytics.
Founded by former US Navy Commander in Chief of the Atlantic Fleet, William Flanagan Jr., Noragh's capabilities provide real-time actionable analytics that already save clients in the insurance industry billions in fraud avoidance. Flanagan and his team have deep experience in bringing successful analytic solutions enabled by their technology platforms, in both the government and commercial business sectors.
The acquisition complements Ankura's data and technology offering, upgrading its application of transformative artificial intelligence and machine learning solutions for business and commercial application. Noragh’s methods of applying data solutions enables artificial intelligence technology and expands Ankura's ability to generate key insights from big data to deliver solutions for clients facing complex, cross-disciplinary issues.
Ankura CEO Kevin Lavin noted, " As we continue to push the envelope on innovation, the Noragh platform allows us to find answers and provide solutions within data that our competitors simply cannot reach. This also reflects our ongoing commitment to delivering the best cutting-edge technology and solutions to clients for their most pressing challenges.”
At the same time, Noragh’s leaders hope becoming part of Ankura will expose the firm to greater opportunities in the coming years. Flanagan stated Ankura’s ability to “leverage our platforms to solve complex problems, mitigate risk, inform strategy and create competitive advantage for clients” would strongly positions his company for the future.
Flanagan added, "What started off as a critical initiative to help the intelligence community fight terror has grown to become one of the most advanced analytics companies of its kind. I'm looking forward to unleashing the combined talent of Noragh and Ankura to bring the power of our platforms to bear for our clients in the commercial and government marketplaces.”
