Accordion, a New York-based financial and technology consultancy focusing on the private equity sector, has acquired Merilytics, a Hyderabad, India-based data and analytics firm.
The transaction, for which financial terms were not disclosed, will create a new data and analytics practice at Accordion.
Merilytics was founded in 2011 and has more than 500 employees providing solutions in data management, advanced analytics, and reporting solutions to help clients enable better decision-making. The firm focuses on private equity firms and their portfolio companies in retail, healthcare, transportation, technology, industrials, and consumer services.
Aside from its Hyderabad offices, Merilytics has an additional location in Plano, Texas.
“We looked at several companies in search of the right partner to advance our data & analytics capabilities, and Merilytics’ reputation, quality of work, and customer partnership orientation made clear they were the perfect fit,” said Nick Leopard, CEO and founder of Accordion. “Merilytics’ best-in-class solutions for financial analytics, operational analytics, and data management will be a tremendous addition to Accordion’s ability to deliver long-term client value.”
Accordion says data is central to various aspects of its strategic finance consulting, including KPI reporting, budgeting, and forecasting. The Merilytics team will help the firm accelerate project delivery, provide end-to-end support, and remain on the cutting-edge of data and analytics.
Accordion was founded in 2009 and focuses on the CFO function at private equity-backed companies. The firm’s offerings span operational and technical accounting, strategic financial planning and analysis, CFO-driven transformation, CFO technology, transaction execution, public company readiness, interim leadership, and turnaround and restructuring.
Accordion has 457 employees listed on LinkedIn and has 10 offices across the United States.
“Accordion has a sterling reputation in the private equity space, with more than 250 relationships that can expand our market for analytics solutions and also strengthen our FP&A solutions,” said Paavan Choudary, founder and CEO of Merilytics. “We’re excited to join forces with Accordion, not only for their market position and cultural fit between the two firms, but because our analytics expertise, technology, and capabilities will truly enhance the impact Accordion has on its clients.”
Accordion in September 2022 received a majority growth investment from Charlesbank Capital Partners and Motive Partners. Charlesbank at the time said the investment would help Accordion expand and scale its expertise and practices.