US Firm Accordion Acquires Merilytics, Opens New Office in Hyderabad
In a significant boost to Hyderabad’s business landscape, US-based financial consulting company Accordion has acquired Hyderabad-based data analytics firm Merilytics. Following this acquisition, Accordion has launched a modern, 1,500-seater office in the city. Currently, the facility houses 850 employees and is expected to reach full capacity by 2026.
Paavan Choudhary, the founder of Merilytics and now the head of Accordion’s Global Data and Analytics practice, confirmed the successful integration of the two companies. Speaking at the new Hyderabad office, he said, “We have successfully integrated Merilytics into Accordion, making it a fully functional part of the company.”
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Boost to Accordion's Data Analytics Expertise
The acquisition, completed in May 2023, has enhanced Accordion’s data analytics capabilities. Previously, the company relied on external vendors for data services. Now, with Merilytics’ expertise, Accordion has the ability to handle analytics in-house.
“Merilytics has a proven track record in private equity-focused data analytics,” said Mr. Choudhary. “This acquisition strengthens our offerings and aligns perfectly with Accordion’s mission to serve private equity clients.”
The integration has also enabled Accordion to develop advanced solutions using cutting-edge technologies like AI, generative AI, value creation analytics, and data management. With this, Accordion’s global workforce has grown to 1,400, including the 850 employees based in Hyderabad.
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Hyderabad's Growing Importance
Hyderabad is emerging as a key player in Accordion’s global operations. According to Mr. Choudhary, the Hyderabad center is expected to contribute about 10-15% of the company’s overall revenue, particularly after the merger.
In August 2024, Accordion officially opened its new office, consolidating operations and reinforcing Hyderabad’s role as a strategic growth hub. The company’s recent expansion into the U.K. market and exploration of new opportunities globally indicate further potential for growth at the Hyderabad facility.
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Data Analytics: A Key Driver for Private Equity
Mr. Choudhary highlighted the growing importance of data analytics in private equity. With high interest rates limiting changes in debt and equity structures, private equity firms are increasingly relying on analytics to boost the value of their portfolio companies.
“Value creation is now the primary lever for private equity returns,” he explained. “Data analytics is essential in helping portfolio companies deliver better results for investors.”
The acquisition of Merilytics and the establishment of the new Hyderabad office demonstrate Accordion’s focus on integrating data analytics into its core operations. As the funding landscape becomes more challenging, this move positions Accordion to offer unmatched value to its private equity clients.
