In a major development for Hyderabad’s business ecosystem, US-based financial consulting firm Accordion has completed the acquisition of Hyderabad-based data analytics company Merilytics. This strategic move has been followed by the inauguration of a state-of-the-art, 1,500-seater office in the city. The facility, which currently accommodates 850 employees, is projected to reach full capacity by 2026.
Paavan Choudhary, head of Accordion’s Global Data and Analytics practice and the founder of Merilytics, confirmed the integration during an interaction at the new Hyderabad office. “We have successfully integrated Merilytics into Accordion, making it a fully functional part of the company,” he stated.
Accordion Strengthens Its Data Analytics Capabilities
The acquisition of Merilytics in May 2023 has significantly bolstered Accordion’s in-house data analytics capabilities. Previously reliant on third-party vendors, Accordion now benefits from the expertise and experience Merilytics brings to the table.
“Merilytics, with its private equity-focused data analytics capabilities, has a proven track record. This acquisition not only enhances our offerings but also aligns seamlessly with Accordion’s core mission of serving private equity clients,” said Mr. Choudhary.
The integration marks a significant step for Accordion, whose global workforce now stands at 1,400, including the 850 employees based in Hyderabad. The collaboration has enabled the launch of advanced solutions using AI, generative AI, value creation analytics, and data management technologies.
Hyderabad’s Strategic Role
Hyderabad is rapidly becoming a critical hub for Accordion, contributing significantly to the firm’s revenue. Mr. Choudhary projected the Hyderabad center’s contribution to be around 10-15% of Accordion’s overall revenue, particularly following the merger.
The new office, opened in August 2024, consolidates operations and positions the city as a strategic growth driver for the firm. Additionally, Accordion’s recent expansion into the U.K. market and exploration of new global opportunities hint at further growth for the Hyderabad facility.
The Value of Data Analytics in Private Equity
Mr. Choudhary emphasized the growing role of data analytics in driving private equity value creation. With high interest rates limiting changes in debt and equity structures, private equity firms are turning to analytics-driven strategies to enhance portfolio company valuations.
“Value creation is now the primary lever for private equity returns,” he explained. “Data analytics interventions are crucial for helping portfolio companies deliver better results for investors.”
The acquisition of Merilytics and the establishment of the Hyderabad office underscore Accordion’s commitment to leveraging data analytics as a core component of its operations. As the funding environment becomes more challenging, the integration positions the US firm to offer unparalleled value to its private equity clients.
