Devoteam buys Singularity Digital Enterprise

 In AI, Companies, News

The French technology consulting services company Devoteam, which employs 1,300 in Portugal, has acquired the Open AI and Digital, and Big Data company Singularity Digital Enterprise that develops and delivers Big Data projects, products and services.

Singularity Digital Enterprise, specialises in cutting-edge areas like Data Analytics, Business Intelligence, AI, Machine Learning, and Data Visualisation. It is the only technology company headquartered in Portugal that has made it to the Financial Times ranking of European companies that have grown the most in 2023.
The company, based in Lisbon’s Parque das Nações business district where it currently employs 60 staff, was founded in 2016 by Pedro Martins and Hugo Cartaxeiro, both former employees of Microsoft.
The acquisition company Devoteam employs around 10,000 staff world-wide of which 1,300 are in Portugal.
Devoteam is a consultancy that focuses on digital strategy, technology platforms and cybersecurity.
Describing the acquisition as a “strategic move” and a “significant step in our expansion plans”, the company said that the purchase was part of its continued effort to strengthen its presence in key areas of technology in the main geographical areas in which it operates, beefing up its operation in Portugal where it had a turnover of 77 million in 2022 and will hit €100 million this year.
It works with various technologies and strategic partners like Microsoft that has resulted in a portfolio of over 200 projects implemented in some of the largest companies in Portugal such as the postal and banking company CTT, the energy company EDP, Portuguese bank Millennium BCP, and the State notary and legal registry IRN using Generative AI to enhance customer and in-house services.
The Portuguese company, now owned by Devoteam, dovetailed the news announced on Thursday, October 12 to showcase real examples of Generative AI to a group of journalists and technology specialists in the field at the headquarters of Microsoft (with which it has partnerships) that same day.
‘Empowering Business with Generative AI – Real Case Uses’ provided an opportunity to understand the latest trends in AI and its applications and success stories in Portugal with the aforementioned companies.
Daniel Rasmus, International Consultant for Singularity and founder of Serious Insight who leads Microsoft’s programme ‘The New World of Work’ shared his experience and vision for the future, including a number of scenarios on the impact of Generative AI on companies, while Manuel Dias, Technology Officer at Microsoft Portugal explained what Microsoft was doing in the Gen AI area, more about which Essential Business will publish on Monday. The event ended with the official launch of the book ‘Empower Business with Generative AI’ by Daniel Ramus, Pedro Martins, and Patrícia Milheiro.

Photo: Representatives from Generative AI case study companies CTT, EDP, Millennium bcp, and IRN. (Nuno Reis – Millennium bank; Francisco Santos, EDP and Jorge Rodrigues da Ponte, IRN) among others showed how the technology is shaping customer service.