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"Our experience with 7 Mile has been very good. They provided an accurate assessment of our market and was very good in managing our expectations and keeping them real through all the twists and turns such a transaction takes. 7 Mile has a tried and tested methodology which helped us tremendously throughout the process."
-- Avijit Datta, Co-Founder, Aviana Global
Aviana Global Technologies, Inc., (“Aviana”) announced the acquisition of Elite Analytics, the Texas-based data sciences and predictive analytics specialists. This acquisition was a significant step towards achieving Aviana's objective of becoming a premier business solutions company that employs cutting edge technologies to solve critical, complex business problems for their clients.
Elite's focus and success in data mining and predictive analytics has earned it a best in class status in the IBM and Open Source world. During its 14 years of successful operation, Elite Analytics developed a variety of predictive analytics solutions for major tax agencies in North America. Some of the largest-scale projects included solutions crafted specifically for the needs of the California Franchise Tax Board and the Department of Taxation and Finance for New York State in the areas of fraud detection and program integrity using predictive analytics.
Elite's proprietary anomaly detection engine makes possible the development of a wide variety of potential applications for many different businesses, providing companies with deeper insight into operational efficiencies and revenue growth opportunities.
"This acquisition is a natural fit with Aviana's solid foundation in data management, performance management and BI," said Daniele Micci-Barreca, co-founder of Elite. "Our expertise in data science and predictive analytics increases the value of the solutions we will be able to bring to our customers."
For Aviana, the acquisition of Elite Analytics meant even more robust and well-rounded business solution-based service offerings. "We are excited at the spectrum of possibilities this merger will provide Aviana and its clients," said Avijit Datta, Aviana co-founder. "Elite's depth of knowledge in predictive analytic applications especially in the fraud and abuse prevention and identification areas opens up a whole new avenue that we are looking forward to excel in."
7 Mile Advisors congratulates both parties on successfully closing this transaction.
About Elite Analytics:
Elite Analytics bridges the gap between complex predictive modeling and advanced analytic solutions to deliver real business value. Established in 2003, the Elite team brings almost two decades of experience in data mining, predictive analytics, text mining and analytics project management. For more information, visit www.eliteanalytics.com.
Aviana Global Technologies is a Predictive Performance Management company with a successful track record since our inception in 1994. Our mission is to partner with our clients, empowering them to become more profitable and strategic through the optimal use of performance management for executive and operational decision-making power. For the last 20 years, Aviana has stood at the forefront of leading-edge performance management solutions with an impressive array of clients. They include many Fortune 1000 companies in industries from hospitality and gaming, manufacturing and financial services to retail and healthcare. For more information, visit www.avianaglobal.com.
About 7 Mile Advisors:
7 Mile Advisors provides Investment Banking & Advisory Services to the Business Services and Technology Industries globally. 7 Mile Advisors advises on M&A and private capital transactions, and provide market assessments and benchmarking. As a close knit team with a long history together and a laser focus on our target markets, 7 Mile Advisors helps its clients sell companies, raise capital, grow through acquisitions, and evaluate new markets. All securities transactions are executed by 7M Securities, LLC, member FINRA / SIPC. For more information, including research on the M&A markets, visit www.7mileadvisors.com