• SparkCognition, a provider of AI analytics solutions, has announced the signing of a definitive agreement to acquire Indian visual AI startup Integration Wizards to expand its intellectual property (IP) portfolio to improve vision capabilities.

• SparkCognition will be able to further improve its product offerings across industries by integrating advanced visual AI capabilities that can evaluate complex situations, utilizing new and diverse data sets including CCTV feeds, drone footage, video from handheld devices, and existing camera infrastructures.

• The company has reported a 2x increase in revenue YoY in 2021.

<ul><li> Analyst QuickTake: SparkCognition continues its inorganic growth through acquisitions of related companies; Integration Wizards now joins three other companies SparkCognition acquired last year—digital knowledge platform Maana, software developer for the renewable energy industry Ensemble Energy, and financial technology company AIM2. The necessary funds for this acquisition were made available earlier this year when the company raised USD 123 million to facilitate organic and inorganic growth.</ul>