Ankura Adds Transformative Data and Technology Capability with Acquisition of Noragh Analytics

Transaction enables Ankura to bring advanced data analytics solutions to complex problems facing clients and strengthens Ankura's position as a global leader in technology-enabled consulting

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Ankura

Feb 09, 2022, 09:10 ET

NEW YORK, Feb. 9, 2022 /PRNewswire/ -- Ankura Consulting Group, LLC, an independent global expert services and advisory firm, today announced that it has acquired Noragh Analytics, a globally recognized leader in advanced data analytics and the enabling of machine learning and artificial intelligence to actionable use of complex data. Noragh is a proven leader in delivering market solutions related to some of the world's most challenging business issues and further positions Ankura as a leading innovator in addressing the needs of clients both today and in the future.

The Noragh proprietary platforms gather both structured and unstructured data from internal and external data sources into comprehensive database networks. This enables a collection of information and data solutions that combine analytic and data management technology with artificial intelligence, machine learning and graph analytics to deliver an unmatched ability to transform business processes, address fraud and predict behavior, patterns and outcomes. The acquisition complements and expands Ankura's market-leading Data and Technology offerings and places the Firm squarely at the forefront of the application of transformative artificial intelligence and machine learning solutions for business and commercial application.

Noragh Analytics was founded by retired Four Star Admiral and former U.S. Navy Commander in Chief of the Atlantic Fleet, William "Bud" Flanagan, Jr. Admiral Flanagan and his team have vast experience in bringing successful analytic solutions enabled by their technology platforms, in both the government and commercial business sectors. Noragh's capabilities provide real-time actionable analytics that are saving the insurance industry hundreds of millions of dollars annually in fraud avoidance. The platforms' methods of applying data solutions enables artificial intelligence technology and expands Ankura's ability to generate key insights from big data to deliver solutions for clients facing complex, cross-disciplinary issues.

"Acquiring Noragh Analytics marks an exciting milestone in the continued growth of Ankura's advanced data analytics and technology enabled consulting capabilities worldwide. As we continue to push the envelope on innovation, the Noragh platform allows us to find answers and provide solutions within data that our competitors simply cannot reach. Today's announcement also reflects our ongoing commitment to delivering the best cutting-edge technology and solutions to clients for their most pressing challenges," said Kevin Lavin, Ankura's Chief Executive Officer.

"I'm very excited that the Noragh team and these game changing solutions are becoming part of Ankura's global technologies solutions offering," said Olaf Larson, Senior Managing Director and leader of Ankura's Data and Technology Business Group. "These innovative platforms and associated customized solutions will further expand our leading position in bringing advanced data and analytics solutions to bear on our clients' toughest challenges as we continue building upon the expansion of our data analytics and technology enabled consulting capabilities in the Americas, Europe, Asia Pacific, the Middle East and Africa."

"What started off as a critical initiative to help the intelligence community fight terror has grown to become one of the most advanced analytics companies of its kind," said Admiral Flanagan. "I'm looking forward to unleashing the combined talent of Noragh and Ankura to bring the power of our platforms to bear for our clients in the commercial and government marketplaces. Ankura's ability to leverage our platforms to solve complex problems, mitigate risk, inform strategy and create competitive advantage for clients will be world-leading and strongly positions us for the future."

To learn more about the functionality of the Noragh platforms, visit: https://noragh.com/.

Sidley Austin LLP served as legal advisor to Noragh Analytics. Davis Polk & Wardwell LLP served as legal advisor, together with Jayaram Law, Inc as special IP legal advisor to Ankura.

About Ankura

Ankura Consulting Group, LLC is an independent global expert services and advisory firm that delivers services and end-to-end solutions to help clients at critical inflection points related to change, risk, disputes, finance, performance, distress, and transformation. The Ankura team consists of more than 1,700 professionals serving 3000+ clients across 55 countries who are leaders in their respective fields and areas of expertise. Collaborative lateral thinking, hard-earned experience, expertise, and multidisciplinary capabilities drive results and Ankura is unrivaled in its ability to assist clients to Protect, Create and Recover Value. For more information, please visit, www.ankura.com.

SOURCE Ankura