EY stands for Ernst and Young Private Limited Company founded back in 2008, the company offers several services such as consultancy, tax and transaction services, assurance services etc. to help the clients in overcoming their toughest business challenges.
Well, most recently EY India has bought 100% majority stake and acquired Spotmentor Technologies, an Artificial Intelligence-based upskilling and reskilling platform, for an undisclosed sum of money.
A statement mentioned that this acquisition was a strategic move for EY India as it will benefit the People Advisory portfolio of several service providers to help start-ups and established businesses understand and analyse their one-on-one skilling needs.
Spotmentor Technologies uses Artificial Intelligence to provide skilling services on an end-to-end basis to help small businesses and established companies in understanding the skillset required for the future of the work and provides services for the upskilling and reskilling human resource at scale.
The platform performs this task by leveraging future technologies such as Machine Learning and Artificial Intelligence to close-in on the gaps that act as a void in the road of competence for such companies, a statement mentioned.
Rohan Sachdev, Consulting Leader and Partner at EY India mentioned in a statement that the company feels responsible for a client with business tools and resources, to help them survive in the dynamic day and age of businesses around the globe.
EY helps clients in evolving with the dynamic changes in the marketplace and overcome disruptions in the new normal, by which he means the post-COVID-19 market situations.
EY India’s acquisition of Spotmentor Technology will certainly benefit the company by enhancing its digital offerings many-fold, combining strengths of both companies in strategic consulting services that it provides and scale up its upskilling and reskilling development.
According to Anurag Malik, Partner at People Advisory Services, EY India says that this acquisition of Spotmentor Technologies has helped the company in equipping its clients with the right skillsets and they have been immensely benefited by this business decision.
Gurugram-based Spotmentor Technologies was co-founded by Yash Pal Mittal, Deepak Singh, Shekhar Suman and Arpit Goyal back in 2016 and since then the company has largely paid attention to government bodies, large established companies and industry start-ups as an emerging business opportunity.
EY India has been on the move for quite some time now; last year in 2019, the company acquired CRM Solutions provider, C Centric and before that in 2018, it acquired UX Design Company, Fortune Cookie.
It seems like the company has envisioned its future quite well and is moving step-by-step every year to further build and grow its business.
