AI: Vedrai buys the Data Intelligence division of Altea

Another key step in the growth path of Vedrai Group, founded in 2020 in Milan, Italy and already established as a key player in Artificial Intelligence solutions. The company has just set up the newco Vedrai Data Intelligence, a joint venture 51% owned by Vedrai and 49% by Altea Federation, incorporating Altea’s Data Intelligence division. With more than 50 employees, over 100 customers and an expected turnover of 6 million euros in 2022, the newco will expand Vedrai's offer also to the collection and organization of data.

With this operation, Vedrai teams with Altea Federation, an IT consulting group based near Milan, Italy with thirty years of experience in system integration, a 2021 turnover of 140 million euros, 1,600 employees and more than 4,000 customers.

“Bringing AI also to SMEs is a mission for us, because adopting cutting-edge technologies is now a necessity, no longer a choice”, says Michele Grazioli, President of Vedrai. "Companies that are not yet ready must be helped and the operation with Altea Federation represents a milestone in this direction and in our process of creating an Italian hub for Artificial Intelligence. For a technology that puts data at the center, it is essential to become a reality of excellence for their treatment, integrating the supply chain as much as possible. The choice of Altea Federation as a travel companion is a very clear demonstration of the seriousness with which we are facing this path, in which experience becomes the other leg of enthusiasm".

"The joint venture with Vedrai allows us to channel over twenty years of experience in this field towards an even more integrated and innovative approach, accompanying the client from data collection to to the generation of the maximum possible value from it. Vedrai and Altea Federation are two apparently very different worlds which, by joining together, create a unique value proposition on the market, where Descriptive and Predictive, together, unleash their full effectiveness", adds Andrea Ruscica, President and Strategy Lead of Altea Federation.

At the helm of the newco will be Fabio Pisoni, CEO of Vedrai Data Intelligence, who comments: “The challenge that lies ahead is undoubtedly fascinating: companies that are not yet prepared today could be so in a few years, but we don't know if and we don't know when. You will see Data Intelligence was created to support these companies in collecting and enhancing their data assets and transforming them into strategic information that is easily accessible and interpretable, starting from Business Analytics and Financial Planning services up to Corporate Performance Management".