Ansr acquires Bengaluru-based AI firm FastNext
The US-based Ansr on Wednesday announced acquisition of Bengaluru-based artificial intelligence (AI) firm FastNext in a cash and stock deal. However, the company did not disclose the acquisition cost.
FastNext was incubated by CoffeeBeans, a boutique product and technology services firm. Post the acquisition, FastNext employees will join Ansr and work closely with its product Talent500.
"The acquisition will enable Ansr empower global enterprises to build the best teams for their global capability centres (GCC) by using deep learning and AI-powered tools across talent acquisition and management, smart workspace management and business workflows," Ansr said in a statement.
The first of the capabilities Ansr aims to build with FastNext is in AI driven talent acquisition and management that will augment existing consulting and technology capabilities. It will help clients in areas such as talent acquisition and management.
Commenting on the acquisition Lalit Ahuja, Founder and CEO, ANSR said, "Organisations aren't going digital, they are digital. Building global capability and engineering centers for technology innovation is a priority for multiple Fortune 1000 companies who are on this journey. As a global market leader in this industry, we are excited to integrate FastNext's portfolio of AI-based tools and solutions into our portfolio so that data is at the core of everything that our customers do to win in the digital age."
"Ansr's Talent500 will play a pivotal role in this partnership for achieving comprehensive 360-degree candidate profiles," the statement said.
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Over the last six months, Talent500 has witnessed tremendous growth, given its focus on disrupting the existing recruiting processes in a post-COVID world.
"FastNext has managed to carve a niche for itself and has built a great reputation in the job seeking community. By combining FastNext's recruiting tech products and Talent500's capabilities, we are paving in a new era of AI led talent acquisition market and driving new levels of productivity. Through this acquisition, we will be able to leverage their resources and serve GCCs better," said Vikram Ahuja, Co-founder, Talent500 by ANSR.
(Disclaimer: Additional background information has been added to this PTI copy for context)